Immunome (NASDAQ:IMNM) Trading Down 6.1% – Time to Sell?

Immunome, Inc. (NASDAQ:IMNM) shares traded down 6.1% during trading on Wednesday . The company traded as low as $12.03 and last traded at $12.11. 98,444 shares were traded during trading, a decline of 87% from the average session volume of 779,170 shares. The stock had previously closed at $12.90.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler lowered their price target on 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 research report on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.00.

Immunome Stock Performance

The firm has a 50 day moving average of $14.30 and a 200-day moving average of $15.16. The stock has a market capitalization of $731.62 million, a PE ratio of -1.60 and a beta of 1.76.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.11). The business had revenue of $2.36 million during 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%. On average, sell-side analysts predict that Immunome, Inc. will post -1.92 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jack Higgins sold 3,524 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jack Higgins sold 3,524 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $13.94 per share, with a total value of $97,580.00. Following the completion of the purchase, the director now directly owns 16,615 shares in the company, valued at approximately $231,613.10. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC lifted its holdings in Immunome by 21,864.0% in the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock worth $136,000 after purchasing an additional 5,466 shares during the last quarter. Quest Partners LLC acquired a new stake in Immunome in the 2nd quarter worth approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Immunome in the 2nd quarter worth approximately $97,000. Arizona State Retirement System lifted its holdings in Immunome by 9.2% in the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after purchasing an additional 4,129 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.