Short Interest in Immuron (NASDAQ:IMRN) Decreases By 54.1%

Immuron (NASDAQ:IMRN) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 36,212 shares, a decline of 54.1% from the July 15th total of 78,837 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 30,080 shares, the short-interest ratio is presently 1.2 days.

Institutional Investors Weigh In On Immuron

A hedge fund 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 13F filing with the Securities and Exchange Commission. The firm acquired 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.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Immuron in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Immuron Stock Performance

Shares of IMRN traded down $0.03 during midday trading on Friday, hitting $1.10. The company had a trading volume of 30,296 shares, compared to its average volume of 23,315. The company’s 50-day simple moving average is $1.13 and its 200-day simple moving average is $0.97. Immuron has a 1 year low of $0.68 and a 1 year high of $2.39.

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.