Imunon (NASDAQ:IMNN) Shares Down 7.2% – What’s Next?

Imunon, Inc. (NASDAQ:IMNN)’s stock price traded down 7.2% during mid-day trading on Thursday . The stock traded as low as $0.89 and last traded at $0.91. 201,898 shares were traded during mid-day trading, a decline of 38% from the average session volume of 325,799 shares. The stock had previously closed at $0.98.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. D. Boral Capital reaffirmed a “buy” rating and set a $29.00 target price on shares of Imunon in a research report on Thursday, December 19th. EF Hutton Acquisition Co. I raised shares of Imunon to a “strong-buy” rating in a research note on Monday, September 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Imunon in a research report on Thursday, December 19th.

Imunon Stock Performance

The firm has a market capitalization of $13.19 million, a PE ratio of -0.48 and a beta of 2.04. The stock has a fifty day moving average price of $0.85 and a 200-day moving average price of $1.05.

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.