Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 10.8% in December

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. Currently, 7.0% of the shares of the company are short sold. Based on an average daily volume of 267,600 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

IMNN has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Imunon in a report on Thursday, December 19th. EF Hutton Acquisition Co. I upgraded shares of Imunon to a “strong-buy” rating in a research note on Monday, September 23rd. Finally, D. Boral Capital reiterated a “buy” rating and set a $29.00 price target on shares of Imunon in a research note on Thursday, December 19th.

Imunon Stock Performance

Shares of Imunon stock traded up $0.02 on Friday, hitting $0.91. 82,573 shares of the company’s stock were exchanged, compared to its average volume of 419,037. The company has a 50-day simple moving average of $0.85 and a 200-day simple moving average of $1.04. The stock has a market capitalization of $13.24 million, a PE ratio of -0.48 and a beta of 2.04. Imunon has a 1 year low of $0.48 and a 1 year high of $3.65.

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.