Immuron (NASDAQ:IMRN) Stock Short Interest Rises 240.2%

Immuron (NASDAQ:IMRN) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 115,685 shares, an increase of 240.2% from the August 31st total of 34,009 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,663,789 shares, the days-to-cover ratio is currently 0.0 days.

Immuron Stock Down 2.5%

Shares of NASDAQ IMRN traded down $0.03 during midday trading on Friday, reaching $1.16. The company’s stock had a trading volume of 43,882 shares, compared to its average volume of 6,531,659. The company has a 50 day moving average price of $1.21 and a 200 day moving average price of $1.06. Immuron has a one year low of $0.68 and a one year high of $2.39.

Immuron (NASDAQ:IMRN) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $1.27 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immuron in a research note on Monday, September 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About Immuron

Immuron Limited (NASDAQ: IMRN) is a biopharmaceutical company focused on developing and commercializing orally delivered therapeutics based on highly specific antibodies derived from hyperimmune bovine colostrum. Its approach is designed to target pathogens and disease-related factors within the gastrointestinal tract without requiring systemic absorption.

The company’s leading commercial product is Travelan, an oral antibody-based product intended to help prevent travelers’ diarrhea caused by enterotoxigenic Escherichia coli (ETEC).