Imunon (NASDAQ:IMNN) General Counsel Sells $20,650.00 in Stock

Imunon, Inc. (NASDAQ:IMNN) General Counsel Susan Eylward sold 11,800 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $1.75, for a total value of $20,650.00. Following the completion of the transaction, the general counsel directly owned 2,896 shares of the company’s stock, valued at $5,068. This represents a 80.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Imunon Stock Up 5.6%

Shares of NASDAQ IMNN opened at $1.88 on Thursday. Imunon, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $10.69. The business has a 50 day moving average price of $2.26 and a two-hundred day moving average price of $2.95. The firm has a market cap of $7.90 million, a PE ratio of -0.36 and a beta of 1.96.

Imunon (NASDAQ:IMNN) last announced its earnings results on Tuesday, May 12th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.38. On average, analysts anticipate that Imunon, Inc. will post -3.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on IMNN shares. Maxim Group set a $10.00 price objective on shares of Imunon and gave the company a “buy” rating in a research note on Friday, April 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Imunon in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Trading of Imunon

Institutional investors have recently added to or reduced their stakes in the business. Riverview Capital Advisers LLC lifted its position in shares of Imunon by 193.3% in the 3rd quarter. Riverview Capital Advisers LLC now owns 34,364 shares of the company’s stock worth $176,000 after buying an additional 22,649 shares during the last quarter. DRW Securities LLC grew its position in shares of Imunon by 6.9% during the 4th quarter. DRW Securities LLC now owns 58,830 shares of the company’s stock valued at $224,000 after buying an additional 3,803 shares during the last quarter. Finally, Armistice Capital LLC bought a new stake in shares of Imunon during the 4th quarter valued at about $1,017,000. Institutional investors own 4.47% of the company’s stock.

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.