Immuron (NASDAQ:IMRN) Stock Price Down 2.2% – Here’s What Happened

Immuron (NASDAQ:IMRN) shares dropped 2.2% on Friday. The company traded as low as $0.78 and last traded at $0.8312. 11,605 shares were traded during trading, a decline of 58% from the average session volume of 27,810 shares. The stock had previously closed at $0.8499.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Immuron in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of “Sell”.

Immuron Trading Down 2.2%

The firm has a fifty day simple moving average of $1.13 and a 200-day simple moving average of $1.01.

Immuron (NASDAQ:IMRN) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $1.27 million for the quarter.

Immuron Company Profile

Immuron Limited is a biopharmaceutical company focused on developing and commercializing orally delivered antibody-based therapies for gastrointestinal and immune-related conditions. The company’s technology uses hyperimmune bovine colostrum to produce antibodies designed to bind targeted pathogens or disease-associated molecules in the gastrointestinal tract.

Immuron’s primary commercial product is Travelan, an oral immunotherapy intended to help prevent travelers’ diarrhea caused by enterotoxigenic Escherichia coli (ETEC).