Immuron (NASDAQ:IMRN) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Shares of Immuron (NASDAQ:IMRNGet Free Report) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.16 and traded as low as $1.02. Immuron shares last traded at $1.0650, with a volume of 8,419 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Immuron in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Immuron currently has an average rating of “Sell”.

Check Out Our Latest Report on Immuron

Immuron Stock Performance

The stock’s 50-day moving average is $1.16 and its 200-day moving average is $0.96.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Immuron stock. Citadel Advisors LLC bought a new stake in Immuron (NASDAQ:IMRNFree Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 0.12% of the company’s stock.

About Immuron

(Get Free Report)

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.

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