Imunon (NASDAQ:IMNN) Shares Down 7.2% – Here’s Why

Imunon, Inc. (NASDAQ:IMNN) was down 7.2% during mid-day trading on Thursday . The company traded as low as $0.89 and last traded at $0.91. Approximately 201,898 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 325,799 shares. The stock had previously closed at $0.98.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IMNN. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Imunon in a research report on Thursday, December 19th. EF Hutton Acquisition Co. I raised shares of Imunon to a “strong-buy” rating in a research report on Monday, September 23rd. Finally, D. Boral Capital reissued a “buy” rating and set a $29.00 price objective on shares of Imunon in a research report on Thursday, December 19th.

Imunon Trading Down 1.1 %

The business’s fifty day simple moving average is $0.85 and its two-hundred day simple moving average is $1.05. The stock has a market capitalization of $13.05 million, a P/E ratio of -0.48 and a beta of 2.04.

About Imunon

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.