Short Interest in Imunon, Inc. (NASDAQ:IMNN) Grows By 7.6%

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 341,600 shares, an increase of 7.6% from the June 15th total of 317,500 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average daily volume of 45,900 shares, the days-to-cover ratio is presently 7.4 days.

Analyst Ratings Changes

Separately, HC Wainwright reduced their price target on shares of Imunon from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th.

Imunon Stock Down 1.0 %

IMNN traded down $0.01 on Thursday, hitting $1.44. The company’s stock had a trading volume of 9,935 shares, compared to its average volume of 120,898. Imunon has a 12 month low of $0.48 and a 12 month high of $2.00. The company’s 50 day simple moving average is $1.31 and its 200-day simple moving average is $1.07. The firm has a market cap of $13.49 million, a P/E ratio of -0.70 and a beta of 2.12.

Imunon (NASDAQ:IMNN) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. Equities analysts predict that Imunon will post -2.09 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.