Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 10.8% in December

Imunon, Inc. (NASDAQ:IMNN) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 970,200 shares, a growth of 10.8% from the December 15th total of 876,000 shares. Approximately 7.0% of the company’s stock are sold short. Based on an average daily volume of 267,600 shares, the short-interest ratio is currently 3.6 days.

Imunon Stock Performance

Shares of IMNN traded up $0.02 on Friday, hitting $0.91. 82,573 shares of the stock traded hands, compared to its average volume of 419,037. The company has a market capitalization of $13.24 million, a PE ratio of -0.48 and a beta of 2.04. The business has a 50 day simple moving average of $0.85 and a 200 day simple moving average of $1.04. Imunon has a one year low of $0.48 and a one year high of $3.65.

Analysts Set New Price Targets

IMNN has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Imunon in a research note on Thursday, December 19th. D. Boral Capital reaffirmed a “buy” rating and set a $29.00 target price on shares of Imunon in a research note on Thursday, December 19th. Finally, EF Hutton Acquisition Co. I raised shares of Imunon to a “strong-buy” rating in a research note on Monday, September 23rd.

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.