Guggenheim Has Lowered Expectations for Immunome (NASDAQ:IMNM) Stock Price

Immunome (NASDAQ:IMNM) had its price objective decreased by equities researchers at Guggenheim from $35.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 205.62% from the stock’s current price.

Several other research firms also recently issued reports on IMNM. Lifesci Capital started coverage on Immunome in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Monday, March 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $25.50.

Immunome Trading Down 5.5 %

Shares of NASDAQ IMNM opened at $8.18 on Thursday. The company has a market cap of $652.58 million, a price-to-earnings ratio of -1.01 and a beta of 1.93. Immunome has a 12 month low of $8.17 and a 12 month high of $26.70. The stock has a 50-day moving average price of $9.76 and a two-hundred day moving average price of $11.57.

Immunome (NASDAQ:IMNM) last issued its earnings results on Wednesday, March 19th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The business had revenue of $2.74 million for the quarter, compared to analyst estimates of $3.07 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. On average, sell-side analysts predict that Immunome will post -2.21 earnings per share for the current year.

Insider Activity at Immunome

In related news, CEO Clay B. Siegall bought 150,000 shares of Immunome stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 669,636 shares of the company’s stock, valued at approximately $5,189,679. The trade was a 28.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Immunome by 0.3% in the third quarter. FMR LLC now owns 4,224,700 shares of the company’s stock valued at $61,765,000 after acquiring an additional 13,757 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Immunome by 10.3% in the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after acquiring an additional 324,614 shares during the last quarter. Enavate Sciences GP LLC bought a new stake in Immunome in the fourth quarter valued at approximately $36,939,000. Price T Rowe Associates Inc. MD boosted its holdings in Immunome by 12.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,282,754 shares of the company’s stock valued at $24,243,000 after acquiring an additional 246,447 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Immunome by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,228,851 shares of the company’s stock worth $13,054,000 after buying an additional 21,396 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

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.