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

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IMNN shares. EF Hutton Acquisition Co. I raised shares of Imunon to a “strong-buy” rating in a research report on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Imunon in a research report on Thursday, December 19th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $29.00 target price on shares of Imunon in a report on Thursday, December 19th.

Imunon Price Performance

The company has a market cap of $13.19 million, a PE ratio of -0.48 and a beta of 2.04. The business’s 50 day moving average is $0.85 and its 200-day moving average is $1.05.

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.