Immuron (NASDAQ:IMRN) Trading Down 4% – Should You Sell?

Shares of Immuron (NASDAQ:IMRN) fell 4% during mid-day trading on Monday . The stock traded as low as $1.15 and last traded at $1.20. 48,254 shares were traded during trading, a decline of 93% from the average session volume of 675,593 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Immuron in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Immuron Stock Down 1.7%

The stock has a fifty day moving average of $0.96 and a 200-day moving average of $0.97.

Immuron (NASDAQ:IMRN) last issued its earnings results on Wednesday, February 25th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $1.40 million during the quarter.

Hedge Funds Weigh In On Immuron

A hedge fund recently bought a new stake in Immuron stock. Citadel Advisors LLC purchased a new stake in shares of Immuron (NASDAQ:IMRN) during the third quarter, according to the company in its most recent filing 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 approximately 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.

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.