Imunon (NASDAQ:IMNN) Posts Earnings Results, Beats Estimates By $0.33 EPS

Imunon (NASDAQ:IMNN) posted its quarterly earnings data on Tuesday. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.33, FiscalAI reports.

Imunon Trading Down 1.2%

Shares of NASDAQ IMNN opened at $1.61 on Tuesday. The business’s 50 day moving average is $1.82 and its 200-day moving average is $2.57. The firm has a market cap of $6.76 million, a P/E ratio of -0.31 and a beta of 1.97. Imunon has a 1-year low of $1.47 and a 1-year high of $7.21.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Imunon in a research note on Friday, July 17th. Maxim Group set a $10.00 price target on shares of Imunon and gave the company a “buy” rating in a report on Friday, April 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Imunon currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Institutional Trading of Imunon

A hedge fund recently raised its stake in Imunon stock. DRW Securities LLC increased its stake in Imunon, Inc. (NASDAQ:IMNN) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,830 shares of the company’s stock after purchasing an additional 3,803 shares during the period. DRW Securities LLC owned approximately 1.92% of Imunon worth $224,000 as of its most recent filing with the SEC. 4.47% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.