Imunon (NASDAQ:IMNN) Issues Earnings Results

Imunon (NASDAQ:IMNN) announced its quarterly earnings data on Tuesday. The company reported ($1.30) earnings per share for the quarter, beating the consensus estimate of ($1.54) by $0.24, FiscalAI reports.

Imunon Trading Up 5.9%

Shares of NASDAQ IMNN opened at $2.88 on Tuesday. The company has a market cap of $8.84 million, a price-to-earnings ratio of -0.30 and a beta of 2.06. Imunon has a 12 month low of $2.52 and a 12 month high of $41.22. The stock has a 50-day moving average price of $3.20 and a two-hundred day moving average price of $3.93.

Institutional Investors Weigh In On Imunon

A hedge fund recently bought a new stake in Imunon stock. Armistice Capital LLC acquired a new position in shares of Imunon, Inc. (NASDAQ:IMNN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 266,886 shares of the company’s stock, valued at approximately $1,017,000. Armistice Capital LLC owned approximately 8.69% of Imunon at the end of the most recent reporting period. Institutional investors and hedge funds own 4.47% of the company’s stock.

Analyst Ratings Changes

IMNN has been the topic of a number of recent analyst reports. restated a “buy” rating on shares of Imunon in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Imunon in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $255.00.

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.