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

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 485,700 shares, an increase 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 currently 1.4 days. Currently, 3.5% of the shares of the company are sold short.

Imunon Stock Performance

NASDAQ IMNN traded down $0.03 during trading hours on Friday, reaching $0.72. The stock had a trading volume of 164,653 shares, compared to its average volume of 969,610. Imunon has a 52-week low of $0.48 and a 52-week high of $3.65. The stock has a market cap of $43.27 million, a P/E ratio of -0.38 and a beta of 2.14. The stock has a fifty day moving average of $0.98 and a 200 day moving average of $1.18.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.04. On average, equities research analysts forecast that Imunon will post -1.68 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.