Imunon, Inc. (NASDAQ:IMNN) Stock Short Interest Falls 64.0%

Imunon, Inc. (NASDAQ:IMNN) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 62,366 shares, a drop of 64.0% from the September 30th total of 173,197 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 92,780 shares, the days-to-cover ratio is currently 0.7 days.

Imunon Stock Performance

NASDAQ:IMNN traded up $0.00 during trading hours on Thursday, hitting $0.83. 209,342 shares of the company were exchanged, compared to its average volume of 101,506. The stock has a market capitalization of $4.67 million, a price-to-earnings ratio of -0.22 and a beta of 2.01. Imunon has a 52-week low of $0.81 and a 52-week high of $4.79. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.82 and a quick ratio of 1.82. The company’s 50 day moving average price is $1.34 and its 200-day moving average price is $2.27.

Imunon (NASDAQ:IMNN) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.33. As a group, research analysts forecast that Imunon will post -2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Imunon in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.00.

Imunon Company Profile

Imunon, Inc (NASDAQ: IMNN) is a clinical-stage biotechnology company focused on developing treatments for cancer and other serious diseases. The company uses proprietary nucleic acid delivery technologies to develop therapeutic candidates designed to stimulate the immune system or deliver genetic instructions directly to target cells.

Imunon’s lead program is GEN-1, an investigational interleukin-12 gene-mediated immunotherapy intended to treat ovarian cancer. The company has evaluated GEN-1 in combination with chemotherapy and other treatments in clinical studies.