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

Imunon, Inc. (NASDAQ:IMNN) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 215,645 shares, an increase of 245.8% from the October 15th total of 62,366 shares. Based on an average daily volume of 144,672 shares, the days-to-cover ratio is presently 1.5 days. Approximately 4.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Imunon in a research note on Thursday, October 15th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Imunon currently has an average rating of “Hold” and an average target price of $10.00.

Imunon Price Performance

Imunon stock traded down $0.01 during midday trading on Friday, reaching $0.63. 173,506 shares of the stock were exchanged, compared to its average volume of 111,185. The company’s fifty day moving average is $1.17 and its 200-day moving average is $2.12. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market cap of $3.53 million, a PE ratio of -0.16 and a beta of 2.10. Imunon has a 52 week low of $0.49 and a 52 week high of $4.38.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.09). On average, sell-side analysts forecast that Imunon will post -2.68 EPS for the current year.

Imunon Company Profile

Imunon, Inc. (NASDAQ: IMNN) is a clinical-stage biotechnology company focused on developing treatments for cancer and other serious diseases. The company uses proprietary nucleic acid delivery technologies to develop therapeutic candidates designed to stimulate the immune system or deliver genetic instructions directly to target cells. Imunon’s lead program is GEN-1, an investigational interleukin-12 gene-mediated immunotherapy intended to treat ovarian cancer. The company has evaluated GEN-1 in combination with chemotherapy and other treatments in clinical studies.