Imunon (NASDAQ:IMNN) Stock Price Down 7.2% – Time to Sell?

Imunon, Inc. (NASDAQ:IMNN) dropped 7.2% during trading on Thursday . The stock traded as low as $0.89 and last traded at $0.91. Approximately 201,898 shares changed 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 Analyst Weigh In

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

Imunon Trading Down 7.2 %

The stock has a market capitalization of $13.19 million, a price-to-earnings ratio of -0.48 and a beta of 2.04. The firm’s fifty day moving average price is $0.85 and its 200 day moving average price is $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.