Short Interest in Immuron (NASDAQ:IMRN) Increases By 109.7%
by Doug Wharley · The Cerbat GemImmuron (NASDAQ:IMRN – Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 11,600 shares, a growth of 109.7% from the March 31st total of 5,532 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 20,437 shares, the short-interest ratio is presently 0.6 days.
Institutional Investors Weigh In On Immuron
An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC purchased a new stake in shares of Immuron (NASDAQ:IMRN – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 quarter. 0.12% of the stock is currently owned by institutional investors and hedge funds.
Immuron Stock Performance
NASDAQ IMRN traded up $0.01 during trading hours on Friday, reaching $0.89. The company’s stock had a trading volume of 14,549 shares, compared to its average volume of 31,927. The business has a 50-day simple moving average of $0.80 and a 200 day simple moving average of $1.16. Immuron has a 52 week low of $0.68 and a 52 week high of $2.39.
Immuron (NASDAQ:IMRN – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $1.40 million during the quarter.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Immuron in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.
Check Out Our Latest Analysis on Immuron
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.