Insider Buying: Imunon, Inc. (NASDAQ:IMNN) CEO Acquires 25,000 Shares of Stock

Imunon, Inc. (NASDAQ:IMNN) CEO Stacy Lindborg bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $0.98 per share, for a total transaction of $24,500.00. Following the completion of the purchase, the chief executive officer now directly owns 264,166 shares of the company’s stock, valued at approximately $258,882.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Imunon Price Performance

Imunon stock opened at $1.08 on Friday. The stock has a market cap of $10.11 million, a PE ratio of -0.50 and a beta of 2.12. The stock’s fifty day moving average is $1.25 and its two-hundred day moving average is $1.16. Imunon, Inc. has a 1-year low of $0.48 and a 1-year high of $3.65.

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

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Imunon in a report on Thursday.

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.