Imunon, Inc. (NASDAQ:IMNN) Sees Significant Decrease in Short Interest
by Sarita Garza · The Markets DailyImunon, Inc. (NASDAQ:IMNN – Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 18,395 shares, a decline of 63.9% from the June 30th total of 50,969 shares. Based on an average daily trading volume, of 31,422 shares, the short-interest ratio is currently 0.6 days. Approximately 0.5% of the company’s shares are sold short.
Hedge Funds Weigh In On Imunon
A hedge fund recently raised its position in Imunon stock. DRW Securities LLC grew its holdings in shares of Imunon, Inc. (NASDAQ:IMNN – Free Report) by 6.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,830 shares of the company’s stock after buying an additional 3,803 shares during the period. DRW Securities LLC owned approximately 1.92% of Imunon worth $224,000 as of its most recent filing with the SEC. Institutional investors own 4.47% of the company’s stock.
Analyst Upgrades and Downgrades
IMNN has been the topic of a number of recent analyst reports. Maxim Group set a $10.00 price objective on Imunon and gave the stock a “buy” rating in a research note on Friday, April 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Imunon in a research report on Friday, July 17th. 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.
Read Our Latest Analysis on Imunon
Imunon Stock Performance
Shares of Imunon stock opened at $1.51 on Monday. The business has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $2.73. Imunon has a 1-year low of $1.51 and a 1-year high of $8.19. The company has a market cap of $6.34 million, a P/E ratio of -0.29 and a beta of 1.96.
Imunon (NASDAQ:IMNN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.38. Equities research analysts forecast that Imunon will post -3.46 EPS 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. 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.