Short Interest in Imunon, Inc. (NASDAQ:IMNN) Increases By 20.3%

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,200,000 shares, an increase of 20.3% from the March 15th total of 997,900 shares. Currently, 8.6% of the shares of the company are short sold. Based on an average trading volume of 140,300 shares, the short-interest ratio is presently 8.6 days.

Analyst Ratings Changes

Several analysts have issued reports on the company. D. Boral Capital reissued a “buy” rating and set a $29.00 price target on shares of Imunon in a report on Monday, March 24th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Imunon in a research note on Wednesday, March 26th.

Imunon Price Performance

Shares of IMNN opened at $0.88 on Monday. The stock has a market capitalization of $12.87 million, a price-to-earnings ratio of -0.47 and a beta of 1.94. Imunon has a 1 year low of $0.64 and a 1 year high of $3.65. The business’s 50 day simple moving average is $0.91 and its 200-day simple moving average is $0.90.

Hedge Funds Weigh In On Imunon

An institutional investor recently raised its position in Imunon stock. Geode Capital Management LLC boosted its position in Imunon, Inc. (NASDAQ:IMNN) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,505 shares of the company’s stock after purchasing an additional 13,570 shares during the quarter. Geode Capital Management LLC owned approximately 0.96% of Imunon worth $133,000 at the end of the most recent reporting period. 4.47% of the stock is currently owned by institutional investors.

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.