Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 43.9% in October

Imunon, Inc. (NASDAQ:IMNN) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 485,700 shares, a growth of 43.9% from the October 15th total of 337,600 shares. Based on an average daily trading volume, of 340,800 shares, the short-interest ratio is presently 1.4 days. Currently, 3.5% of the company’s stock are sold short.

Imunon Stock Performance

IMNN traded down $0.03 during midday trading on Friday, reaching $0.72. 164,653 shares of the company were exchanged, compared to its average volume of 969,610. The company’s fifty day moving average price is $0.98 and its 200 day moving average price is $1.18. The company has a market cap of $43.27 million, a price-to-earnings ratio of -0.38 and a beta of 2.14. Imunon has a one year low of $0.48 and a one year high of $3.65.

Imunon (NASDAQ:IMNN) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.04. As a group, sell-side analysts anticipate that Imunon will post -1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. HC Wainwright decreased their target price on Imunon from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, November 11th. EF Hutton Acquisition Co. I raised Imunon to a “strong-buy” rating in a research report on Monday, September 23rd.

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.