Imunon, Inc. (NASDAQ:IMNN) Short Interest Down 8.6% in March

Imunon, Inc. (NASDAQ:IMNN) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 449,100 shares, a decrease of 8.6% from the February 29th total of 491,200 shares. Based on an average daily trading volume, of 152,200 shares, the short-interest ratio is currently 3.0 days. Currently, 4.8% of the shares of the stock are short sold.

Imunon Stock Performance

Shares of IMNN stock opened at $1.93 on Tuesday. Imunon has a fifty-two week low of $0.48 and a fifty-two week high of $2.00. The stock’s fifty day moving average price is $0.79 and its two-hundred day moving average price is $0.86. The company has a market cap of $18.14 million, a PE ratio of -0.89 and a beta of 2.02.

Institutional Trading of Imunon

Several large investors have recently bought and sold shares of IMNN. Geode Capital Management LLC bought a new stake in shares of Imunon during the 1st quarter valued at approximately $62,000. Renaissance Technologies LLC acquired a new stake in shares of Imunon during the 1st quarter valued at $76,000. Finally, BlackRock Inc. acquired a new position in Imunon in the 1st quarter worth about $83,000. 4.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright upped their price target on shares of Imunon from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday.

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 programs comprise IMNN-001, a DNA-based immunotherapy for the localized treatment of ovarian cancer that is in Phase II clinical development; and ThermoDox for the treatment of hepatocellular carcinoma.