Short Interest in Imunon, Inc. (NASDAQ:IMNN) Drops By 8.7%

Imunon, Inc. (NASDAQ:IMNN) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 432,400 shares, a decrease of 8.7% from the September 15th total of 473,600 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average trading volume of 2,980,000 shares, the days-to-cover ratio is presently 0.1 days.

Imunon Stock Performance

NASDAQ:IMNN opened at $1.00 on Thursday. Imunon has a fifty-two week low of $0.48 and a fifty-two week high of $3.65. The company has a 50 day moving average price of $1.08 and a 200 day moving average price of $1.26. The stock has a market capitalization of $9.40 million, a P/E ratio of -0.50 and a beta of 2.13.

Imunon (NASDAQ:IMNN) last announced its earnings results on Wednesday, August 14th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.04. Research analysts forecast that Imunon will post -1.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Imunon in a research note on Thursday, August 15th. EF Hutton Acquisition Co. I upgraded shares of Imunon to a “strong-buy” rating in a report on Monday, September 23rd.

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.