Imunon (NASDAQ:IMNN) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Imunon (NASDAQ:IMNN) from a sell rating to a hold rating in a research report released on Saturday.

Other analysts have also issued research reports about the stock. D Boral Capital lowered shares of Imunon from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 19th. D. Boral Capital reissued a “hold” rating on shares of Imunon in a research report on Monday, May 19th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.50.

Imunon Stock Performance

NASDAQ IMNN opened at $7.08 on Friday. Imunon has a 52-week low of $4.83 and a 52-week high of $41.22. The company has a 50-day simple moving average of $12.65 and a 200 day simple moving average of $13.59. The company has a market capitalization of $17.28 million, a PE ratio of -0.55 and a beta of 2.16.

Imunon (NASDAQ:IMNN) last posted its earnings results on Monday, May 12th. The company reported ($4.20) earnings per share for the quarter, topping the consensus estimate of ($5.25) by $1.05. As a group, analysts forecast that Imunon will post -1.68 EPS for the current fiscal year.

Imunon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $0.60 annualized dividend and a yield of 8.5%.

Hedge Funds Weigh In On Imunon

An institutional investor recently raised its position in Imunon stock. Geode Capital Management LLC boosted its position in shares of Imunon, Inc. (NASDAQ:IMNN) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,505 shares of the company’s stock after acquiring an additional 13,570 shares during the period. Geode Capital Management LLC owned 0.96% of Imunon worth $133,000 as of its most recent SEC filing. Institutional investors own 4.47% of the company’s stock.

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.