Imunon, Inc. (NASDAQ:IMNN) Sees Large Increase in Short Interest

Imunon, Inc. (NASDAQ:IMNN) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 234,635 shares, a growth of 52.2% from the December 15th total of 154,143 shares. Approximately 8.1% of the shares of the stock are short sold. Based on an average trading volume of 86,907 shares, the days-to-cover ratio is presently 2.7 days. Based on an average trading volume of 86,907 shares, the days-to-cover ratio is presently 2.7 days. Approximately 8.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IMNN. Brookline Capital Management reiterated a “buy” rating on shares of Imunon in a research report on Wednesday, January 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Imunon in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Imunon has a consensus rating of “Hold” and an average price target of $232.50.

Institutional Investors Weigh In On Imunon

An institutional investor recently raised its position in Imunon stock. Riverview Capital Advisers LLC boosted its holdings in Imunon, Inc. (NASDAQ:IMNN) by 193.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,364 shares of the company’s stock after buying an additional 22,649 shares during the period. Riverview Capital Advisers LLC owned approximately 1.41% of Imunon worth $176,000 as of its most recent SEC filing. 4.47% of the stock is currently owned by institutional investors.

Imunon Price Performance

Shares of IMNN stock traded up $0.10 on Friday, reaching $3.57. 40,583 shares of the stock were exchanged, compared to its average volume of 76,304. Imunon has a one year low of $2.99 and a one year high of $41.22. The stock has a market cap of $10.96 million, a PE ratio of -0.37 and a beta of 1.94. The stock has a 50 day moving average price of $3.82 and a 200 day moving average price of $5.53.

Imunon (NASDAQ:IMNN) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($1.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.73) by $0.57. On average, research analysts expect that Imunon will post -1.68 earnings per share for the current fiscal year.

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. 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.