Insider Buying: Imunon, Inc. (NASDAQ:IMNN) Director Buys 25,000 Shares of Stock

Imunon, Inc. (NASDAQ:IMNN) Director Donald P. Braun acquired 25,000 shares of Imunon stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $1.18 per share, for a total transaction of $29,500.00. Following the completion of the purchase, the director now directly owns 25,597 shares of the company’s stock, valued at approximately $30,204.46. The trade was a 4,187.60 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Imunon Price Performance

IMNN opened at $0.91 on Friday. Imunon, Inc. has a one year low of $0.48 and a one year high of $3.65. The business has a 50 day simple moving average of $0.88 and a two-hundred day simple moving average of $1.01. The firm has a market capitalization of $13.20 million, a price-to-earnings ratio of -0.48 and a beta of 2.04.

Imunon (NASDAQ:IMNN) last announced its earnings results on Thursday, November 7th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03. During the same period in the prior year, the company posted ($0.37) EPS. As a group, sell-side analysts expect that Imunon, Inc. will post -1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Imunon in a research report on Thursday, December 19th. D. Boral Capital reiterated a “buy” rating and set a $29.00 price target on shares of Imunon in a report on Friday, January 24th.

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.