Imunon, Inc. (NASDAQ:IMNN) Short Interest Up 142.1% in September

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 217,400 shares, a growth of 142.1% from the September 15th total of 89,800 shares. Based on an average trading volume of 249,600 shares, the short-interest ratio is presently 0.9 days. Currently, 8.9% of the company’s shares are short sold. Currently, 8.9% of the company’s shares are short sold. Based on an average trading volume of 249,600 shares, the short-interest ratio is presently 0.9 days.

Imunon Stock Up 0.6%

IMNN opened at $5.09 on Friday. Imunon has a 52-week low of $4.60 and a 52-week high of $41.22. The company has a market cap of $12.42 million, a P/E ratio of -0.39 and a beta of 2.22. The firm’s 50-day moving average price is $5.67 and its 200-day moving average price is $10.83.

Imunon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend was Thursday, August 7th.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IMNN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Imunon in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Imunon from a “hold” rating to a “sell” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $232.50.

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.