Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 23.7% in September

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 473,600 shares, an increase of 23.7% from the August 31st total of 382,800 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average trading volume of 2,950,000 shares, the short-interest ratio is currently 0.2 days.

Imunon Stock Performance

IMNN remained flat at $1.04 during midday trading on Monday. The company’s stock had a trading volume of 37,106 shares, compared to its average volume of 1,110,582. The stock has a market capitalization of $9.78 million, a PE ratio of -0.51 and a beta of 2.13. The firm has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.26. Imunon has a 12-month low of $0.48 and a 12-month high of $3.65.

Imunon (NASDAQ:IMNN) last posted its earnings results on Wednesday, August 14th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.04. As a group, sell-side analysts expect that Imunon will post -1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IMNN has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Imunon in a research note on Thursday, August 15th. EF Hutton Acquisition Co. I raised Imunon to a “strong-buy” rating in a research note on Monday, September 23rd.

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.