Immuron (NASDAQ:IMRN) Trading Down 0.5% – Here’s Why

Shares of Immuron (NASDAQ:IMRN) fell 0.5% on Monday . The company traded as low as $0.9401 and last traded at $1.00. 30,387 shares traded hands during trading, a decline of 24% from the average session volume of 40,052 shares. The stock had previously closed at $1.0050.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immuron in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Immuron currently has an average rating of “Sell”.

Immuron Price Performance

The business’s fifty day moving average price is $0.83 and its 200 day moving average price is $1.03.

Immuron (NASDAQ:IMRN) last announced its earnings results on Wednesday, February 25th. The company reported ($0.10) EPS for the quarter. The firm had revenue of $1.40 million for the quarter.

Hedge Funds Weigh In On Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC acquired a new stake in Immuron (NASDAQ:IMRN) during the third quarter, according to its most recent filing with the SEC. The firm acquired 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned about 0.29% of Immuron at the end of the most recent reporting period. 0.12% of the stock is currently owned by institutional investors and hedge funds.

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.