Immuron (NASDAQ:IMRN) Short Interest Up 1,917.5% in May

Immuron (NASDAQ:IMRN) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 532,563 shares, an increase of 1,917.5% from the May 14th total of 26,397 shares. Based on an average daily trading volume, of 1,375,804 shares, the days-to-cover ratio is currently 0.4 days. Currently, 7.0% of the company’s stock are sold short.

Immuron Trading Down 0.8%

Shares of NASDAQ IMRN traded down $0.01 during midday trading on Tuesday, reaching $1.19. The company had a trading volume of 25,528 shares, compared to its average volume of 677,362. The business’s 50-day simple moving average is $0.96 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.

Immuron (NASDAQ:IMRN) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $1.40 million for 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 data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Immuron stock. Citadel Advisors LLC bought 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 (SEC). The fund bought 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 and hedge funds.

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.