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

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 738,600 shares, a growth of 5.2% from the November 15th total of 702,000 shares. Approximately 5.4% of the company’s stock are short sold. Based on an average daily volume of 207,400 shares, the days-to-cover ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IMNN. EF Hutton Acquisition Co. I raised Imunon to a “strong-buy” rating in a research report on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Imunon in a research report on Wednesday, December 11th. Finally, D. Boral Capital reissued a “buy” rating and set a $29.00 target price on shares of Imunon in a research report on Tuesday, December 10th.

Imunon Stock Performance

Shares of IMNN stock opened at $0.84 on Monday. Imunon has a fifty-two week low of $0.48 and a fifty-two week high of $3.65. The firm has a market capitalization of $12.25 million, a PE ratio of -0.45 and a beta of 2.12. The stock’s 50-day simple moving average is $0.89 and its 200-day simple moving average is $1.09.

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.