Immunome (NASDAQ:IMNM) Shares Down 5.6% After Insider Selling

Immunome, Inc. (NASDAQ:IMNM)’s stock price fell 5.6% during trading on Monday following insider selling activity. The stock traded as low as $14.05 and last traded at $14.15. 319,038 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 780,663 shares. The stock had previously closed at $14.99.

Specifically, CFO Max Rosett sold 14,380 shares of Immunome stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction of $230,223.80. Following the transaction, the chief financial officer now owns 47,476 shares in the company, valued at $760,090.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

Several brokerages recently issued reports on IMNM. Piper Sandler lowered their target price on Immunome from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunome has an average rating of “Buy” and an average price target of $29.00.

Immunome Stock Down 5.6 %

The firm has a market cap of $848.56 million, a price-to-earnings ratio of -1.99 and a beta of 1.77. The firm has a 50 day moving average of $14.54 and a 200 day moving average of $16.04.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.11). The company had revenue of $2.36 million during the quarter, compared to the consensus estimate of $2.62 million. Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. Equities analysts expect that Immunome, Inc. will post -1.92 EPS for the current year.

Hedge Funds Weigh In On Immunome

Several institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in shares of Immunome during the second quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Immunome during the 2nd quarter worth approximately $97,000. Arizona State Retirement System raised its stake in shares of Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Immunome by 21,864.0% in the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock valued at $136,000 after purchasing an additional 5,466 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Immunome during the fourth quarter valued at approximately $172,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.