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

Imunon, Inc. (NASDAQ:IMNN) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 193,639 shares, an increase of 114.2% from the August 31st total of 90,383 shares. Currently, 3.6% of the company’s shares are short sold. Based on an average daily trading volume, of 154,079 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Imunon in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Imunon Price Performance

IMNN stock opened at $1.33 on Wednesday. Imunon has a 52-week low of $1.29 and a 52-week high of $5.55. The stock’s fifty day simple moving average is $1.54 and its 200-day simple moving average is $2.12. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $7.49 million, a price-to-earnings ratio of -0.35 and a beta of 1.98.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.33. Equities research analysts expect that Imunon will post -2.37 EPS for the current year.

About Imunon

Imunon, Inc (NASDAQ: IMNN) is a clinical-stage biotechnology company focused on developing DNA-based immunotherapies for the treatment of cancer and other serious diseases. The company’s technology is designed to deliver therapeutic genes or immune-stimulating agents directly to targeted tissues, with the goal of activating the body’s immune response against disease.

Its leading product candidate is IMNN-001, formerly known as GEN-1, an investigational DNA-based interleukin-12 immunotherapy being developed for advanced ovarian cancer.