Imunon, Inc. (NASDAQ:IMNN) Short Interest Update

Imunon, Inc. (NASDAQ:IMNN) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 18,395 shares, a drop of 63.9% from the June 30th total of 50,969 shares. Based on an average daily volume of 31,422 shares, the short-interest ratio is presently 0.6 days. Currently, 0.5% of the company’s stock are sold short.

Imunon Price Performance

Shares of NASDAQ:IMNN remained flat at $1.53 on Tuesday. 31,634 shares of the company’s stock were exchanged, compared to its average volume of 95,065. The business has a fifty day simple moving average of $1.95 and a 200-day simple moving average of $2.71. Imunon has a 52 week low of $1.47 and a 52 week high of $8.19. The company has a market cap of $6.43 million, a price-to-earnings ratio of -0.30 and a beta of 1.96.

Imunon (NASDAQ:IMNN) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.38. Sell-side analysts anticipate that Imunon will post -3.46 EPS for the current year.

Hedge Funds Weigh In On Imunon

An institutional investor recently bought a new position in Imunon stock. Armistice Capital LLC bought a new stake in shares of Imunon, Inc. (NASDAQ:IMNN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 266,886 shares of the company’s stock, valued at approximately $1,017,000. Armistice Capital LLC owned about 8.69% of Imunon at the end of the most recent quarter. 4.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IMNN. Weiss Ratings reissued a “sell (e+)” rating on shares of Imunon in a report on Friday, July 17th. Maxim Group set a $10.00 target price on Imunon and gave the stock a “buy” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Imunon currently has an average 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.