Imunon (NASDAQ:IMNN) Shares Down 1.9% – Should You Sell?

Imunon, Inc. (NASDAQ:IMNN)’s share price fell 1.9% during mid-day trading on Wednesday . The stock traded as low as $0.86 and last traded at $0.86. 30,040 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 884,016 shares. The stock had previously closed at $0.88.

Analyst Ratings Changes

IMNN has been the topic of several research analyst reports. D. Boral Capital restated a “buy” rating and issued a $29.00 price target on shares of Imunon in a research report on Monday, March 24th. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Imunon in a report on Wednesday, March 26th.

Imunon Price Performance

The stock’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $0.90. The company has a market capitalization of $13.01 million, a P/E ratio of -0.47 and a beta of 1.94.

Hedge Funds Weigh In On Imunon

An institutional investor recently raised its position in Imunon stock. Geode Capital Management LLC grew its stake in Imunon, Inc. (NASDAQ:IMNN) by 10.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 139,505 shares of the company’s stock after purchasing an additional 13,570 shares during the quarter. Geode Capital Management LLC owned about 0.96% of Imunon worth $133,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 4.47% of the company’s stock.

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.