Imunon (NASDAQ:IMNN) Stock Price Down 7.2% – Here’s Why

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

Wall Street Analyst Weigh In

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

Imunon Stock Down 7.2 %

The firm has a 50 day moving average price of $0.85 and a 200-day moving average price of $1.05. The stock has a market capitalization of $13.19 million, a PE ratio of -0.48 and a beta of 2.04.

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.