Immunome (NASDAQ:IMNM) Shares Down 4.7%

Immunome, Inc. (NASDAQ:IMNM)’s share price fell 4.7% during trading on Tuesday . The company traded as low as $13.89 and last traded at $13.94. 53,119 shares were traded during trading, a decline of 93% from the average session volume of 783,554 shares. The stock had previously closed at $14.62.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IMNM shares. Piper Sandler decreased their target price on Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $33.00 target price on shares of Immunome in a research note on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $29.00.

Immunome Stock Down 5.7 %

The stock has a 50-day moving average of $14.59 and a 200 day moving average of $15.60. The stock has a market cap of $826.37 million, a PE ratio of -1.81 and a beta of 1.77.

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

Insider Activity

In related news, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total value of $230,223.80. Following the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at $760,090.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Immunome news, insider Jack Higgins sold 3,524 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the transaction, the insider now owns 16,000 shares of the company’s stock, valued at $222,880. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Max Rosett sold 14,380 shares of Immunome stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction of $230,223.80. Following the sale, the chief financial officer now owns 47,476 shares of the company’s stock, valued at $760,090.76. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

A number of hedge funds have recently made changes to their positions in IMNM. Quest Partners LLC acquired a new position in Immunome during the 2nd quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Immunome during the second quarter worth about $97,000. Arizona State Retirement System boosted 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 valued at $131,000 after purchasing an additional 918 shares during the period. EntryPoint Capital LLC grew 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, AQR Capital Management LLC lifted its holdings in Immunome by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after buying an additional 4,129 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Immunome

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.