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

Imunon, Inc. (NASDAQ:IMNN) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 18,395 shares, a decrease of 63.9% from the June 30th total of 50,969 shares. Based on an average trading volume of 31,422 shares, the short-interest ratio is presently 0.6 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Imunon stock. DRW Securities LLC grew its stake in Imunon, Inc. (NASDAQ:IMNN) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,830 shares of the company’s stock after buying an additional 3,803 shares during the period. DRW Securities LLC owned approximately 1.92% of Imunon worth $224,000 at the end of the most recent reporting period. Institutional investors own 4.47% of the company’s stock.

Imunon Stock Performance

IMNN stock opened at $1.53 on Wednesday. The stock has a market cap of $6.43 million, a P/E ratio of -0.30 and a beta of 1.96. The stock’s fifty day simple moving average is $1.93 and its two-hundred day simple moving average is $2.70. Imunon has a 1-year low of $1.47 and a 1-year high of $8.19.

Imunon (NASDAQ:IMNN) last released its 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, analysts forecast that Imunon will post -3.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IMNN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Imunon in a report on Friday, July 17th. Maxim Group set a $10.00 price target on Imunon and gave the stock a “buy” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

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.