Imunon, Inc. (NASDAQ:IMNN) Short Interest Down 8.3% in May

Imunon, Inc. (NASDAQ:IMNN) saw a large decline in short interest in May. As of May 31st, there was short interest totalling 323,600 shares, a decline of 8.3% from the May 15th total of 352,900 shares. Based on an average daily trading volume, of 119,500 shares, the short-interest ratio is currently 2.7 days. Currently, 3.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, HC Wainwright reduced their price objective on Imunon from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th.

Imunon Stock Up 0.9 %

Shares of NASDAQ IMNN traded up $0.01 during mid-day trading on Tuesday, hitting $1.10. The company had a trading volume of 210 shares, compared to its average volume of 136,515. Imunon has a 1-year low of $0.48 and a 1-year high of $2.00. The business’s 50-day simple moving average is $1.36 and its 200 day simple moving average is $1.01.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.05. As a group, equities analysts predict that Imunon will post -2.09 EPS for the current fiscal year.

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.