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

Imunon, Inc. (NASDAQ:IMNN) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 2,730,000 shares, a growth of 881.3% from the July 15th total of 278,200 shares. Based on an average daily trading volume, of 2,720,000 shares, the short-interest ratio is presently 1.0 days. Approximately 19.2% of the shares of the stock are short sold.

Imunon Stock Down 13.4 %

Shares of IMNN traded down $0.14 during trading hours on Wednesday, hitting $0.94. The company had a trading volume of 960,636 shares, compared to its average volume of 1,239,877. Imunon has a 52-week low of $0.48 and a 52-week high of $3.65. The stock’s 50 day moving average price is $1.26 and its 200 day moving average price is $1.16. The firm has a market cap of $8.79 million, a P/E ratio of -0.48 and a beta of 2.12.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. On average, research analysts expect that Imunon will post -2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price target on Imunon from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, August 5th.

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.