Immunome (NASDAQ:IMNM) Trading Up 3.5% – Here’s What Happened

Immunome, Inc. (NASDAQ:IMNM) shares traded up 3.5% on Tuesday . The stock traded as high as $12.96 and last traded at $12.89. 32,457 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 778,959 shares. The stock had previously closed at $12.45.

Analyst Ratings Changes

Several equities analysts recently commented on IMNM shares. Piper Sandler cut their price target on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Tuesday, August 13th. Six 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 $29.00.

Immunome Price Performance

The stock’s 50-day moving average price is $14.35 and its 200 day moving average price is $15.24. The firm has a market capitalization of $769.40 million, a PE ratio of -1.65 and a beta of 1.76.

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

Insider Buying and Selling

In other news, CFO Max Rosett sold 14,380 shares of the stock in a transaction that occurred 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 directly owns 47,476 shares in the company, valued at approximately $760,090.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Max Rosett sold 14,380 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jack Higgins sold 3,524 shares of Immunome stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the transaction, the insider now owns 16,000 shares in the company, valued at $222,880. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Immunome

Several institutional investors and hedge funds have recently bought and sold shares of IMNM. Avidity Partners Management LP purchased a new position in shares of Immunome in the 4th quarter valued at approximately $14,268,000. Lord Abbett & CO. LLC acquired a new stake in shares of Immunome during the first quarter worth $10,994,000. Swiss National Bank purchased a new stake in shares of Immunome during the first quarter valued at $1,762,000. Sofinnova Investments Inc. increased its position in shares of Immunome by 10.3% in 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 period. Finally, Cetera Investment Advisers purchased a new position in Immunome in the 1st quarter worth $3,038,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.