Imunon (NASDAQ:IMNN) Shares Down 7.2% – Here’s What Happened

Imunon, Inc. (NASDAQ:IMNN) shares were down 7.2% on Thursday . The stock traded as low as $0.89 and last traded at $0.91. Approximately 201,898 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 325,799 shares. The stock had previously closed at $0.98.

Analysts Set New Price Targets

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

Imunon Trading Down 1.1 %

The company has a market capitalization of $13.05 million, a price-to-earnings ratio of -0.48 and a beta of 2.04. The stock has a 50-day simple moving average of $0.85 and a 200-day simple moving average of $1.05.

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.