Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 23.7% in September

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 473,600 shares, an increase of 23.7% from the August 31st total of 382,800 shares. Based on an average daily trading volume, of 2,950,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 3.5% of the shares of the company are sold short.

Imunon Price Performance

Shares of NASDAQ IMNN remained flat at $1.04 during mid-day trading on Monday. The stock had a trading volume of 37,106 shares, compared to its average volume of 1,110,582. Imunon has a twelve month low of $0.48 and a twelve month high of $3.65. The firm has a market cap of $9.78 million, a PE ratio of -0.51 and a beta of 2.13. The business’s 50-day moving average is $1.18 and its 200 day moving average is $1.26.

Imunon (NASDAQ:IMNN) last announced its earnings results on Wednesday, August 14th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.04. As a group, equities analysts expect that Imunon will post -1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IMNN has been the subject of several recent analyst reports. EF Hutton Acquisition Co. I raised Imunon to a “strong-buy” rating in a research note on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Imunon in a research note on Thursday, August 15th.

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.