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

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 970,200 shares, an increase of 10.8% from the December 15th total of 876,000 shares. Approximately 7.0% of the shares of the company are sold short. Based on an average trading volume of 267,600 shares, the days-to-cover ratio is presently 3.6 days.

Imunon Price Performance

Shares of NASDAQ:IMNN opened at $0.91 on Monday. The company has a market capitalization of $13.24 million, a P/E 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. The firm’s 50 day simple moving average is $0.85 and its two-hundred day simple moving average is $1.03.

Wall Street Analyst Weigh In

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

Imunon Company Profile

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.