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

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Imunon stock. Riverview Capital Advisers LLC lifted its holdings in shares of Imunon, Inc. (NASDAQ:IMNN) by 193.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 34,364 shares of the company’s stock after acquiring 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 filing with the SEC. 4.47% of the stock is currently owned by institutional investors.

Imunon Price Performance

Shares of Imunon stock traded up $0.10 during midday trading on Friday, hitting $3.57. The company had a trading volume of 40,583 shares, compared to its average volume of 76,304. Imunon has a 1-year low of $2.99 and a 1-year high of $41.22. The business’s 50 day simple moving average is $3.82 and its two-hundred day simple moving average is $5.57. The stock has a market cap of $10.96 million, a PE ratio of -0.37 and a beta of 1.94.

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

Wall Street Analyst Weigh In

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

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.