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

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 62,366 shares, a drop of 64.0% from the September 30th total of 173,197 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 92,780 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Imunon in a research note on Thursday, October 15th. One investment 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, the company currently has an average rating of “Hold” and a consensus target price of $10.00.

Imunon Price Performance

Shares of Imunon stock traded up $0.08 during midday trading on Friday, reaching $0.91. 131,494 shares of the company’s stock traded hands, compared to its average volume of 119,952. Imunon has a 52 week low of $0.81 and a 52 week high of $4.67. The company’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $2.24. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 2.86.

Imunon (NASDAQ:IMNN) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.33. Equities analysts forecast that Imunon will post -2.37 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.