Imunon (NASDAQ:IMNN) Announces Quarterly Earnings Results

Imunon (NASDAQ:IMNN) released its quarterly earnings data on Tuesday. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.33, FiscalAI reports.

Imunon Stock Performance

NASDAQ:IMNN opened at $1.61 on Tuesday. Imunon has a 52-week low of $1.47 and a 52-week high of $7.21. The firm has a market cap of $6.76 million, a price-to-earnings ratio of -0.31 and a beta of 1.97. The business’s fifty day moving average is $1.82 and its 200 day moving average is $2.57.

Hedge Funds Weigh In On Imunon

An institutional investor recently raised its stake in Imunon stock. DRW Securities LLC boosted its stake in Imunon, Inc. (NASDAQ:IMNN) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,830 shares of the company’s stock after purchasing an additional 3,803 shares during the quarter. DRW Securities LLC owned about 1.92% of Imunon worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 4.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IMNN shares. Maxim Group set a $10.00 price objective on shares of Imunon and gave the stock a “buy” rating in a research report on Friday, April 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Imunon in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.00.

Imunon Company Profile

Imunon, Inc, a clinical-stage biotechnology company, engages in the development of immunotherapies and vaccines to treat cancer and infectious diseases. The company’s lead clinical program IMNN-001, a DNA-based immunotherapy for the localized treatment of ovarian cancer that is in Phase II clinical development. Its preclinical stage products include IMNN-101, a COVID-19 booster vaccine; IMNN-102 for the treatment of Lassa virus; and IMNN-201, a Trp2 tumor associated antigen cancer vaccine in melanoma.