FY2024 EPS Estimates for Immunome Lowered by Leerink Partnrs

Immunome, Inc. (NASDAQ:IMNM) – Analysts at Leerink Partnrs dropped their FY2024 EPS estimates for shares of Immunome in a report released on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now expects that the company will post earnings of ($2.23) per share for the year, down from their prior estimate of ($1.63). The consensus estimate for Immunome’s current full-year earnings is ($2.13) per share. Leerink Partnrs also issued estimates for Immunome’s Q4 2024 earnings at ($0.81) EPS, FY2025 earnings at ($4.17) EPS, FY2026 earnings at ($4.36) EPS and FY2027 earnings at ($3.97) EPS.

Several other brokerages have also recently commented on IMNM. Piper Sandler dropped their price target on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Friday, October 25th. Finally, Stephens assumed coverage on Immunome in a report on Friday, November 8th. They set an “overweight” rating and a $30.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome currently has an average rating of “Buy” and a consensus price target of $28.83.

Immunome Stock Performance

Shares of NASDAQ IMNM opened at $9.90 on Monday. Immunome has a 1 year low of $6.93 and a 1 year high of $30.96. The stock has a fifty day moving average price of $13.12 and a two-hundred day moving average price of $13.79. The firm has a market cap of $617.96 million, a P/E ratio of -1.22 and a beta of 1.82.

Insider Buying and Selling at Immunome

In related news, 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 value of $230,223.80. Following the completion of the sale, the chief financial officer now owns 47,476 shares of the company’s stock, valued at approximately $760,090.76. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in Immunome by 113.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after purchasing an additional 1,194,451 shares during the last quarter. Marshall Wace LLP grew its position in shares of Immunome by 228.5% in the second quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after purchasing an additional 1,191,774 shares during the last quarter. Redmile Group LLC lifted its position in shares of Immunome by 26.0% during the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock worth $120,674,000 after purchasing an additional 1,010,139 shares during the last quarter. Farallon Capital Management LLC bought a new stake in Immunome during the 1st quarter valued at approximately $14,660,000. Finally, Janus Henderson Group PLC increased its position in Immunome by 10.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after buying an additional 324,614 shares during the period. Institutional investors and hedge funds 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.