Immuron (NASDAQ:IMRN) Sees Large Decrease in Short Interest
by Michael Walen · The Markets DailyImmuron (NASDAQ:IMRN – Get Free Report) saw a large decline in short interest in March. As of March 31st, there was short interest totaling 5,532 shares, a decline of 81.0% from the March 15th total of 29,148 shares. Based on an average daily volume of 19,154 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC purchased a new position in shares of Immuron (NASDAQ:IMRN – Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. 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 SEC filing. Hedge funds and other institutional investors own 0.12% of the company’s stock.
Immuron Stock Down 0.4%
Shares of NASDAQ:IMRN traded down $0.00 on Friday, hitting $0.80. The stock had a trading volume of 4,125 shares, compared to its average volume of 18,549. Immuron has a twelve month low of $0.68 and a twelve month high of $2.39. The firm’s 50 day moving average price is $0.78 and its 200-day moving average price is $1.25.
Immuron (NASDAQ:IMRN – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $1.40 million for the quarter. Equities research analysts predict that Immuron will post -0.02 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Immuron in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.
View Our Latest Report on IMRN
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.