Immuron (NASDAQ:IMRN) Sees Significant Decline in Short Interest

Immuron (NASDAQ:IMRN) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 36,212 shares, a decrease of 54.1% from the July 15th total of 78,837 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 30,080 shares, the short-interest ratio is currently 1.2 days.

Immuron Stock Performance

Shares of IMRN traded down $0.03 during mid-day trading on Friday, reaching $1.10. The stock had a trading volume of 30,296 shares, compared to its average volume of 23,315. The business has a fifty day moving average of $1.13 and a 200 day moving average of $0.97. Immuron has a 12 month low of $0.68 and a 12 month high of $2.39.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC purchased a new position in Immuron (NASDAQ:IMRN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned approximately 0.29% of Immuron as of its most recent filing with the Securities and Exchange Commission. 0.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Immuron in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Immuron Company Profile

Immuron Limited, a biopharmaceutical company, researches and develops oral immunotherapy polyclonal antibodies for the treatment and prevention of infectious and immune modulated diseases in Australia, the United States, and internationally. The company operates through two segments, Research and Development, and Hyperimmune Products. The company markets Travelan and Protectyn for the prevention of travellers' diarrhea. Its lead product candidates include IMM-124E that is in Phase II clinical trials for non-alcoholic steatohepatitis, severe alcoholic hepatitis, and non-alcoholic fatty liver disease, as well as used in antiviral activity against the COVID-19 virus in laboratory studies; and IMM-529, a clinical stage product for clostridium difficile infections.