Imunon (NASDAQ:IMNN) General Counsel Sells 11,800 Shares of Stock

Imunon, Inc. (NASDAQ:IMNN) General Counsel Susan Eylward sold 11,800 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $1.75, for a total value of $20,650.00. Following the completion of the sale, the general counsel owned 2,896 shares in the company, valued at $5,068. This represents a 80.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Imunon Stock Performance

IMNN stock traded up $0.01 during trading on Monday, hitting $1.80. The stock had a trading volume of 56,995 shares, compared to its average volume of 73,057. The stock has a market cap of $7.56 million, a price-to-earnings ratio of -0.35 and a beta of 1.95. The company’s 50 day moving average price is $2.34 and its two-hundred day moving average price is $3.00. Imunon, Inc. has a 1-year low of $1.70 and a 1-year high of $11.19.

Imunon (NASDAQ:IMNN) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.38. As a group, sell-side analysts forecast that Imunon, Inc. will post -3.46 earnings per share for the current fiscal year.

Institutional Trading of Imunon

Institutional investors have recently added to or reduced their stakes in the stock. Riverview Capital Advisers LLC lifted its position in shares of Imunon by 193.3% during the third quarter. Riverview Capital Advisers LLC now owns 34,364 shares of the company’s stock worth $176,000 after purchasing an additional 22,649 shares during the last quarter. DRW Securities LLC increased its holdings in Imunon by 6.9% in the fourth quarter. DRW Securities LLC now owns 58,830 shares of the company’s stock valued at $224,000 after buying an additional 3,803 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in Imunon in the fourth quarter valued at about $1,017,000. 4.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Imunon in a report on Tuesday, April 21st. Maxim Group set a $10.00 target price on shares of Imunon and gave the company a “buy” rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

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. 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.