Immuron (NASDAQ:IMRN) Sees Significant Decrease in Short Interest

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

Analysts Set New Price Targets

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

Immuron Trading Up 1.8%

Shares of NASDAQ IMRN traded up $0.02 during midday trading on Monday, reaching $1.12. The company had a trading volume of 5,590 shares, compared to its average volume of 119,722. The business’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.

Hedge Funds Weigh In On Immuron

A hedge fund recently bought a new position in Immuron stock. Citadel Advisors LLC purchased a new position in shares of Immuron (NASDAQ:IMRN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 0.12% of the company’s stock.

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.