Immuron (NASDAQ:IMRN) Stock Price Down 4% – Time to Sell?

Immuron (NASDAQ:IMRN)’s stock price dropped 4% on Monday . The company traded as low as $1.15 and last traded at $1.20. Approximately 48,254 shares changed hands during trading, a decline of 93% from the average daily volume of 675,593 shares. The stock had previously closed at $1.25.

Wall Street Analyst Weigh In

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

Immuron Stock Down 4.0%

The company has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $0.97.

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

Institutional Trading of Immuron

A hedge fund recently bought a new stake in Immuron stock. Citadel Advisors LLC acquired a new stake in shares of Immuron (NASDAQ:IMRN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,562 shares of the company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned 0.29% of Immuron as of its most recent SEC filing. 0.12% of the stock is currently owned by institutional investors.

About Immuron

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.