Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 43.9% in October

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 485,700 shares, an increase of 43.9% from the October 15th total of 337,600 shares. Based on an average daily volume of 340,800 shares, the days-to-cover ratio is presently 1.4 days. Approximately 3.5% of the shares of the stock are short sold.

Imunon Stock Performance

Shares of NASDAQ IMNN traded down $0.03 during mid-day trading on Friday, reaching $0.72. 164,653 shares of the company’s stock were exchanged, compared to its average volume of 969,610. The firm has a market capitalization of $43.27 million, a price-to-earnings ratio of -0.38 and a beta of 2.14. Imunon has a 52-week low of $0.48 and a 52-week high of $3.65. The company’s 50-day moving average is $0.98 and its 200-day moving average is $1.18.

Imunon (NASDAQ:IMNN) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. As a group, equities analysts predict that Imunon will post -1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. EF Hutton Acquisition Co. I raised Imunon to a “strong-buy” rating in a research note on Monday, September 23rd. HC Wainwright dropped their target price on Imunon from $14.00 to $12.00 and set a “buy” rating for the company in a report on Monday, November 11th.

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.