Imunon (NASDAQ:IMNN) Trading Down 4.2% – Here’s Why

Imunon, Inc. (NASDAQ:IMNN)’s stock price traded down 4.2% during mid-day trading on Tuesday . The stock traded as low as $0.85 and last traded at $0.86. 57,142 shares traded hands during trading, a decline of 59% from the average session volume of 139,908 shares. The stock had previously closed at $0.90.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Imunon in a research note on Thursday, December 19th. D. Boral Capital reaffirmed a “buy” rating and set a $29.00 price target on shares of Imunon in a research note on Friday, January 24th.

Imunon Trading Down 4.2 %

The firm has a 50 day moving average price of $0.89 and a 200-day moving average price of $0.96. The firm has a market cap of $12.50 million, a price-to-earnings ratio of -0.46 and a beta of 2.03.

Institutional Inflows and Outflows

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 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 139,505 shares of the company’s stock after purchasing an additional 13,570 shares during the quarter. Geode Capital Management LLC owned about 0.96% of Imunon worth $133,000 as of its most recent filing with the Securities and Exchange Commission. 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.