Imunon (NASDAQ:IMNN) Rating Lowered to “Hold” at D Boral Capital

Imunon (NASDAQ:IMNN) was downgraded by analysts at D Boral Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. D. Boral Capital reiterated a “hold” rating on shares of Imunon in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Imunon in a report on Wednesday, March 26th.

Imunon Trading Down 5.9%

Shares of NASDAQ IMNN opened at $0.44 on Monday. The business has a 50-day moving average of $0.86 and a 200-day moving average of $0.87. The firm has a market capitalization of $7.76 million, a price-to-earnings ratio of -0.23 and a beta of 1.75. Imunon has a 12 month low of $0.43 and a 12 month high of $3.65.

Imunon (NASDAQ:IMNN) last announced its earnings results on Monday, May 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.07. On average, analysts predict that Imunon will post -1.68 earnings per share for the current year.

Institutional Trading of Imunon

A hedge fund recently raised its stake in Imunon stock. Geode Capital Management LLC lifted its stake in Imunon, Inc. (NASDAQ:IMNN) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,505 shares of the company’s stock after buying an additional 13,570 shares during the period. Geode Capital Management LLC owned approximately 0.96% of Imunon worth $133,000 as of its most recent SEC filing. Institutional investors own 4.47% of the company’s stock.

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.