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

Immuron (NASDAQ:IMRN) was the target of a large increase in short interest in 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 trading volume of 1,375,804 shares, the short-interest ratio is presently 0.4 days. Currently, 7.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Immuron in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Immuron presently has an average rating of “Sell”.

Hedge Funds Weigh In On Immuron

A hedge fund recently bought a new stake in Immuron stock. Citadel Advisors LLC bought a new stake in Immuron (NASDAQ:IMRN) in the 3rd quarter, according to its most recent filing with the 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 at the end of the most recent reporting period. Institutional investors own 0.12% of the company’s stock.

Immuron Stock Performance

Shares of IMRN stock traded down $0.01 on Tuesday, hitting $1.19. The company had a trading volume of 25,528 shares, compared to its average volume of 677,362. Immuron has a twelve month low of $0.68 and a twelve month high of $2.39. The company has a 50-day moving average price of $0.96 and a 200-day moving average price of $0.97.

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

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.