Immuron (NASDAQ:IMRN) Trading 0.6% Higher – Time to Buy?

Immuron (NASDAQ:IMRN)’s share price traded up 0.6% during trading on Wednesday . The stock traded as high as $0.8192 and last traded at $0.7980. 32,786 shares changed hands during mid-day trading, an increase of 59% from the average session volume of 20,583 shares. The stock had previously closed at $0.7933.

Analysts Set New Price Targets

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

Immuron Stock Performance

The business has a 50-day moving average price of $0.79 and a 200-day moving average price of $1.26.

Immuron (NASDAQ:IMRN) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $1.40 million during the quarter. On average, research analysts forecast that Immuron will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immuron

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC purchased a new position in shares of Immuron (NASDAQ:IMRN) during the third quarter, according to the company in its most recent Form 13F 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 at the end of the most recent quarter. 0.12% of the stock is currently owned by hedge funds and other institutional investors.

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.