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

Imunon, Inc. (NASDAQ:IMNN) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 57,617 shares, a decline of 60.8% from the May 14th total of 146,860 shares. Based on an average daily volume of 64,055 shares, the short-interest ratio is presently 0.9 days. Approximately 1.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Imunon

A number of hedge funds and other institutional investors have recently bought and sold shares of IMNN. Riverview Capital Advisers LLC grew its holdings in Imunon by 193.3% in 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 period. DRW Securities LLC grew its holdings in Imunon by 6.9% in the fourth quarter. DRW Securities LLC now owns 58,830 shares of the company’s stock worth $224,000 after purchasing an additional 3,803 shares during the period. Finally, Armistice Capital LLC purchased a new stake in Imunon in the fourth quarter worth about $1,017,000. Hedge funds and other institutional investors own 4.47% of the company’s stock.

Imunon Stock Performance

Shares of NASDAQ IMNN traded down $0.01 during midday trading on Friday, hitting $2.02. 46,023 shares of the company traded hands, compared to its average volume of 54,805. Imunon has a 12-month low of $1.93 and a 12-month high of $20.48. The stock has a 50-day moving average price of $2.60 and a 200 day moving average price of $3.16. The firm has a market cap of $8.48 million, a P/E ratio of -0.39 and a beta of 1.95.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.38. As a group, equities analysts expect that Imunon will post -3.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IMNN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Imunon in a research report on Tuesday, April 21st. Maxim Group set a $10.00 price target on shares of Imunon and gave the company a “buy” rating in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Imunon currently has a consensus rating of “Hold” and an average price target 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.