Imunon (NASDAQ:IMNN) Announces Earnings Results

Imunon (NASDAQ:IMNN) released its earnings results on Tuesday. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.33, FiscalAI reports.

Imunon Stock Performance

Shares of IMNN traded down $0.01 during mid-day trading on Tuesday, reaching $1.62. 8,585 shares of the company’s stock traded hands, compared to its average volume of 95,679. The business’s 50-day moving average price is $1.82 and its 200-day moving average price is $2.57. The stock has a market capitalization of $6.83 million, a P/E ratio of -0.31 and a beta of 1.97. Imunon has a 12 month low of $1.47 and a 12 month high of $7.21.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IMNN shares. Maxim Group set a $10.00 target price on Imunon and gave the company a “buy” rating in a research note on Friday, April 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Imunon in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Imunon currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Trading of Imunon

An institutional investor recently raised its position in Imunon stock. DRW Securities LLC grew its holdings in shares of Imunon, Inc. (NASDAQ:IMNN) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 58,830 shares of the company’s stock after acquiring an additional 3,803 shares during the quarter. DRW Securities LLC owned about 1.92% of Imunon worth $224,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 4.47% of the company’s stock.

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.