Wedbush Has Positive Forecast for Immunome FY2024 Earnings

Immunome, Inc. (NASDAQ:IMNM) – Equities researchers at Wedbush upped their FY2024 earnings estimates for Immunome in a report released on Wednesday, November 13th. Wedbush analyst D. Nierengarten now expects that the company will earn ($2.11) per share for the year, up from their previous forecast of ($2.23). Wedbush has a “Outperform” rating and a $33.00 price objective on the stock. The consensus estimate for Immunome’s current full-year earnings is ($2.13) per share. Wedbush also issued estimates for Immunome’s Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.72) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.69) EPS, FY2025 earnings at ($2.77) EPS, FY2026 earnings at ($2.70) EPS and FY2027 earnings at ($2.11) EPS.

A number of other research analysts have also commented on IMNM. Stephens started coverage on Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target for the company. Piper Sandler decreased their price objective on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $28.83.

Immunome Stock Down 11.1 %

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

Institutional Trading of Immunome

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank purchased a new stake in Immunome during the 1st quarter valued at $1,762,000. Sofinnova Investments Inc. boosted its holdings in shares of Immunome by 10.3% during the 2nd quarter. Sofinnova Investments Inc. now owns 655,680 shares of the company’s stock valued at $7,934,000 after acquiring an additional 61,284 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Immunome in the first quarter worth approximately $3,038,000. Price T Rowe Associates Inc. MD boosted its holdings in Immunome by 113.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after purchasing an additional 1,194,451 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new position in shares of Immunome during the 2nd quarter valued at $1,379,000. 44.58% of the stock is currently owned by institutional investors.

Insider Transactions at Immunome

In other news, CFO Max Rosett sold 14,380 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 47,476 shares of the company’s stock, valued at approximately $760,090.76. This represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.60% 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.