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

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

Imunon Trading Up 2.9%

NASDAQ IMNN traded up $0.10 on Friday, reaching $3.57. The stock had a trading volume of 40,583 shares, compared to its average volume of 76,304. Imunon has a 1 year low of $2.99 and a 1 year high of $41.22. The business has a 50 day moving average price of $3.82 and a 200 day moving average price of $5.57. 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 (NASDAQ:IMNN) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($1.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.73) by $0.57. On average, analysts anticipate that Imunon will post -1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Imunon

A hedge fund recently raised its stake in Imunon stock. Riverview Capital Advisers LLC lifted its stake in shares of Imunon, Inc. (NASDAQ:IMNN) by 193.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC. Institutional investors and hedge funds own 4.47% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.