Imunon (NASDAQ:IMNN) Trading Down 4.4% – What’s Next?

Shares of Imunon, Inc. (NASDAQ:IMNN) fell 4.4% during mid-day trading on Thursday . The company traded as low as $0.78 and last traded at $0.80. 987,079 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 3,671,681 shares. The stock had previously closed at $0.84.

Analyst Ratings Changes

IMNN has been the subject of several recent research reports. Wall Street Zen raised shares of Imunon to a “sell” rating in a research report on Friday, June 6th. D. Boral Capital restated a “hold” rating on shares of Imunon in a research report on Monday, May 19th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Imunon in a research note on Wednesday, March 26th. Finally, D Boral Capital downgraded Imunon from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Imunon currently has an average rating of “Hold” and an average target price of $15.50.

Imunon Stock Down 4.4%

The company has a market cap of $14.01 million, a P/E ratio of -0.59 and a beta of 2.15. The business has a 50-day moving average price of $1.10 and a two-hundred day moving average price of $0.97.

Imunon (NASDAQ:IMNN) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.07. As a group, sell-side analysts expect that Imunon, Inc. will post -1.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Imunon

A hedge fund recently raised its stake in Imunon stock. Geode Capital Management LLC grew its position in Imunon, Inc. (NASDAQ:IMNN) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & 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 at the end of the most recent quarter. 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.