Immuron Limited [IMRN] is -23.60% lower this YTD. Is it still time to buy?

Immuron Limited [NASDAQ: IMRN] stock went on an upward path that rose over 18.63% on Friday, amounting to a one-week price decrease of less than -3.54%. The company report on December 23, 2022 that Immuron Receives FDA Approval for Travelan IND Application.

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Immuron receives U.S. Food and Drug administration (FDA) approval for Travelan Investigational New Drug (IND) application.

Over the last 12 months, IMRN stock dropped by -33.22%. The average equity rating for IMRN stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $12.60 million, with 5.69 million shares outstanding and 5.69 million shares in the current float. Compared to the average trading volume of 6.53K shares, IMRN stock reached a trading volume of 18678844 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Immuron Limited [IMRN]:

The Average True Range (ATR) for Immuron Limited is set at 0.25, with the Price to Sales ratio for IMRN stock in the period of the last 12 months amounting to 16.47. The Price to Book ratio for the last quarter was 0.38.

IMRN Stock Performance Analysis:

Immuron Limited [IMRN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.54. With this latest performance, IMRN shares gained by 0.53% in over the last four-week period, additionally sinking by -24.95% over the last 6 months – not to mention a drop of -33.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IMRN stock in for the last two-week period is set at 48.08, with the RSI for the last a single of trading hit 48.39, and the three-weeks RSI is set at 47.83 for Immuron Limited [IMRN]. The present Moving Average for the last 50 days of trading for this stock 1.9678, while it was recorded at 1.8554 for the last single week of trading, and 2.5069 for the last 200 days.

Immuron Limited [IMRN] Insider Position Details

1 institutional holders increased their position in Immuron Limited [NASDAQ:IMRN] by around 14,608 shares. Additionally, 3 investors decreased positions by around 431 shares, while 0 investors held positions by with 3,869 shares. The mentioned changes placed institutional holdings at 18,908 shares, according to the latest SEC report filing. IMRN stock had 1 new institutional investments in for a total of 14,608 shares, while 2 institutional investors sold positions of 151 shares during the same period.


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