Short Interest in Imunon, Inc. (NASDAQ:IMNN) Decreases By 8.7%

Imunon, Inc. (NASDAQ:IMNN) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 432,400 shares, a decline of 8.7% from the September 15th total of 473,600 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,980,000 shares, the days-to-cover ratio is presently 0.1 days.

Imunon Trading Down 2.1 %

Shares of IMNN traded down $0.02 during trading hours on Wednesday, reaching $0.98. 168,758 shares of the stock traded hands, compared to its average volume of 1,053,981. The stock has a fifty day simple moving average of $1.09 and a 200 day simple moving average of $1.26. Imunon has a 52 week low of $0.48 and a 52 week high of $3.65. The company has a market cap of $9.17 million, a price-to-earnings ratio of -0.49 and a beta of 2.13.

Imunon (NASDAQ:IMNN) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. Analysts predict that Imunon will post -1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IMNN shares. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Imunon in a report on Thursday, August 15th. EF Hutton Acquisition Co. I upgraded shares of Imunon to a “strong-buy” rating in a research report 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.