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

Imunon, Inc. (NASDAQ:IMNN) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 970,200 shares, a growth of 10.8% from the December 15th total of 876,000 shares. Based on an average daily volume of 267,600 shares, the short-interest ratio is currently 3.6 days. Currently, 7.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Imunon in a report on Thursday, December 19th. D. Boral Capital reissued a “buy” rating and set a $29.00 target price on shares of Imunon in a research report on Thursday, December 19th. Finally, EF Hutton Acquisition Co. I upgraded Imunon to a “strong-buy” rating in a research report on Monday, September 23rd.

Imunon Stock Performance

NASDAQ IMNN traded up $0.02 during trading on Friday, hitting $0.91. The stock had a trading volume of 82,573 shares, compared to its average volume of 419,037. The stock has a 50 day simple moving average of $0.85 and a 200 day simple moving average of $1.04. Imunon has a one year low of $0.48 and a one year high of $3.65. The stock has a market capitalization of $13.24 million, a price-to-earnings ratio of -0.48 and a beta of 2.04.

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.