Immunome, Inc. (NASDAQ:IMNM) Sees Significant Decrease in Short Interest

Immunome, Inc. (NASDAQ:IMNM) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 9,790,000 shares, a decrease of 8.2% from the November 15th total of 10,670,000 shares. Based on an average trading volume of 787,600 shares, the days-to-cover ratio is currently 12.4 days. Currently, 19.3% of the company’s stock are sold short.

Immunome Trading Down 3.4 %

Shares of IMNM opened at $12.02 on Wednesday. The stock has a 50 day simple moving average of $12.21 and a 200-day simple moving average of $13.41. The stock has a market cap of $750.25 million, a PE ratio of -1.48 and a beta of 1.83. Immunome has a 1 year low of $7.48 and a 1 year high of $30.96.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IMNM shares. Stephens initiated coverage on shares of Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 price target for the company. Piper Sandler lowered their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $28.83.

Insider Activity

In other news, CEO Clay B. Siegall purchased 66,057 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the acquisition, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at approximately $4,633,511.22. The trade was a 15.74 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Philip Tsai acquired 21,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $9.43 per share, for a total transaction of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 102,862 shares of company stock valued at $978,045. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

Several institutional investors and hedge funds have recently made changes to their positions in IMNM. Sofinnova Investments Inc. grew its position in Immunome by 10.3% during the 2nd quarter. Sofinnova Investments Inc. now owns 655,680 shares of the company’s stock worth $7,934,000 after acquiring an additional 61,284 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Immunome by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after acquiring an additional 237,497 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Immunome by 217.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock valued at $6,469,000 after acquiring an additional 302,916 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Immunome during the second quarter worth approximately $1,379,000. Finally, Rhumbline Advisers acquired a new stake in shares of Immunome in the second quarter valued at approximately $813,000. Institutional investors and hedge funds 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.