Imunon (NASDAQ:IMNN) Shares Down 7.2% – Here’s Why

Imunon, Inc. (NASDAQ:IMNN)’s share price was down 7.2% during trading on Thursday . The company traded as low as $0.89 and last traded at $0.91. Approximately 201,898 shares traded hands during trading, a decline of 38% from the average daily volume of 325,799 shares. The stock had previously closed at $0.98.

Wall Street Analysts Forecast Growth

IMNN has been the topic of a number of recent research reports. D. Boral Capital reiterated a “buy” rating and set a $29.00 price target on shares of Imunon in a research note on Thursday, December 19th. EF Hutton Acquisition Co. I upgraded shares of Imunon to a “strong-buy” rating in a report on Monday, September 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Imunon in a research report on Thursday, December 19th.

Imunon Price Performance

The stock has a market cap of $13.05 million, a PE ratio of -0.48 and a beta of 2.04. The company has a 50-day simple moving average of $0.85 and a 200-day simple moving average of $1.05.

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.