Imunon, Inc. (NASDAQ:IMNN) Receives Consensus Recommendation of “Hold” from Brokerages

Imunon, Inc. (NASDAQ:IMNN) has been given an average recommendation of “Hold” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $232.50.

A number of research firms have recently weighed in on IMNN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Imunon in a research note on Thursday, January 22nd. Brookline Capital Management restated a “buy” rating on shares of Imunon in a research note on Wednesday, January 7th.

Imunon Stock Performance

IMNN stock opened at $3.32 on Friday. The firm has a 50 day simple moving average of $3.74 and a 200 day simple moving average of $5.05. Imunon has a 52 week low of $2.99 and a 52 week high of $41.22. The stock has a market cap of $10.19 million, a P/E ratio of -0.34 and a beta of 1.94.

Imunon (NASDAQ:IMNN) last released its quarterly earnings data on Thursday, November 13th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.73) by $0.57. Sell-side analysts predict that Imunon will post -1.68 EPS for the current year.

Hedge Funds Weigh In On Imunon

A hedge fund recently raised its stake in Imunon stock. Riverview Capital Advisers LLC boosted its holdings in shares of Imunon, Inc. (NASDAQ:IMNN) by 193.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,364 shares of the company’s stock after acquiring an additional 22,649 shares during the quarter. Riverview Capital Advisers LLC owned approximately 1.41% of Imunon worth $176,000 at the end of the most recent reporting period. 4.47% of the stock is owned by institutional investors and hedge funds.

About Imunon

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. Its preclinical stage products include IMNN-101, a COVID-19 booster vaccine; IMNN-102 for the treatment of Lassa virus; and IMNN-201, a Trp2 tumor associated antigen cancer vaccine in melanoma.