Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 43.9% in October

Imunon, Inc. (NASDAQ:IMNN) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 485,700 shares, an increase of 43.9% from the October 15th total of 337,600 shares. Based on an average daily volume of 340,800 shares, the short-interest ratio is presently 1.4 days. Approximately 3.5% of the shares of the stock are sold short.

Imunon Price Performance

IMNN stock traded down $0.03 during midday trading on Friday, reaching $0.72. 164,653 shares of the stock were exchanged, compared to its average volume of 969,610. The stock has a market capitalization of $43.27 million, a PE ratio of -0.38 and a beta of 2.14. Imunon has a 52 week low of $0.48 and a 52 week high of $3.65. The company has a fifty day moving average price of $0.98 and a 200 day moving average price of $1.18.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. As a group, analysts anticipate that Imunon will post -1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IMNN. HC Wainwright decreased their price target on Imunon from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. EF Hutton Acquisition Co. I upgraded Imunon to a “strong-buy” rating in a research note on Monday, September 23rd.

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.