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

Imunon, Inc. (NASDAQ:IMNN) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 234,635 shares, an increase of 52.2% from the December 15th total of 154,143 shares. Approximately 8.1% of the company’s stock are sold short. Based on an average trading volume of 86,907 shares, the short-interest ratio is presently 2.7 days. Based on an average trading volume of 86,907 shares, the short-interest ratio is presently 2.7 days. Approximately 8.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Imunon stock. Riverview Capital Advisers LLC grew its position in Imunon, Inc. (NASDAQ:IMNN) by 193.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,364 shares of the company’s stock after acquiring an additional 22,649 shares during the quarter. Riverview Capital Advisers LLC owned about 1.41% of Imunon worth $176,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 4.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IMNN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Imunon in a report on Wednesday, October 8th. Brookline Capital Management reissued a “buy” rating on shares of Imunon in a research report on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $232.50.

Imunon Stock Up 2.9%

IMNN traded up $0.10 on Friday, reaching $3.57. The company’s stock had a trading volume of 40,583 shares, compared to its average volume of 76,304. The stock has a 50 day moving average of $3.82 and a two-hundred day moving average of $5.53. The company has a market capitalization of $10.96 million, a price-to-earnings ratio of -0.37 and a beta of 1.94. Imunon has a fifty-two week low of $2.99 and a fifty-two week high of $41.22.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.73) by $0.57. As a group, analysts anticipate that Imunon will post -1.68 earnings per share for the current fiscal year.

Imunon Company Profile

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.