Immunome (NASDAQ:IMNM) Shares Gap Up on Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $9.82, but opened at $11.10. Immunome shares last traded at $11.18, with a volume of 336,877 shares changing hands.

Specifically, CTO Philip Tsai purchased 21,000 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $9.43 per share, for a total transaction of $198,030.00. Following the transaction, the chief technology officer now directly owns 21,000 shares in the company, valued at $198,030. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Lechleider acquired 15,805 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the completion of the purchase, the insider now directly owns 15,805 shares in the company, valued at $149,831.40. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In other news, CEO Clay B. Siegall acquired 66,057 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $9.54 per share, with a total value of $630,183.78. Following the purchase, the chief executive officer now owns 485,693 shares of the company’s stock, valued at $4,633,511.22. This represents a 15.74 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Friday, October 25th. Finally, Stephens assumed coverage on shares of Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $28.83.

Immunome Stock Up 13.5 %

The business’s 50 day moving average is $12.49 and its 200-day moving average is $13.55. The firm has a market cap of $695.98 million, a P/E ratio of -1.37 and a beta of 1.82.

Institutional Trading of Immunome

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in Immunome during the second quarter valued at $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Immunome during the second quarter valued at $97,000. Arizona State Retirement System boosted its holdings in shares of Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after acquiring an additional 918 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after acquiring an additional 4,129 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Immunome during the second quarter valued at $206,000. Institutional investors 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.