Wall Street Zen Upgrades Imunon (NASDAQ:IMNN) to Sell

Imunon (NASDAQ:IMNNGet Free Report) was upgraded by Wall Street Zen to a “sell” rating in a research note issued on Friday.

Several other research analysts have also recently issued reports on IMNN. D. Boral Capital reaffirmed 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 target price on shares of Imunon in a research report on Wednesday, March 26th. Finally, D Boral Capital cut Imunon from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.50.

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Imunon Stock Performance

Shares of IMNN opened at $1.46 on Friday. The firm has a market capitalization of $25.61 million, a P/E ratio of -0.77 and a beta of 2.15. Imunon has a 52 week low of $0.37 and a 52 week high of $3.65. The stock has a 50 day moving average price of $1.02 and a two-hundred day moving average price of $0.94.

Imunon (NASDAQ:IMNNGet Free Report) 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, equities analysts forecast that Imunon will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Imunon stock. Geode Capital Management LLC boosted its holdings in Imunon, Inc. (NASDAQ:IMNNFree Report) by 10.8% during the 4th quarter, according to the company in its most recent disclosure 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 period. Geode Capital Management LLC owned about 0.96% of Imunon worth $133,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 4.47% of the company’s stock.

About Imunon

(Get Free Report)

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.

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