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

Immunome, Inc. (NASDAQ:IMNM) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $10.32, but opened at $11.16. Immunome shares last traded at $10.87, with a volume of 472,104 shares.

Specifically, CEO Clay B. Siegall bought 150,000 shares of the stock in a transaction 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 purchase, the chief executive officer now directly owns 669,636 shares of the company’s stock, valued at $5,189,679. This trade represents a 28.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stephens started coverage on shares of Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Monday, January 13th. Finally, Piper Sandler dropped their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $28.60.

Immunome Price Performance

The stock has a market capitalization of $691.61 million, a PE ratio of -1.37 and a beta of 1.90. The firm’s 50 day simple moving average is $11.34 and its 200 day simple moving average is $12.67.

Hedge Funds Weigh In On Immunome

Institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in Immunome by 10.3% during the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after buying an additional 324,614 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Immunome by 217.0% during 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 during the period. Victory Capital Management Inc. boosted 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 valued at $10,684,000 after acquiring an additional 237,497 shares during the period. Geode Capital Management LLC grew its position in Immunome by 13.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after acquiring an additional 144,557 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Immunome by 22.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock worth $6,881,000 after purchasing an additional 85,580 shares during the period. Institutional investors own 44.58% of the company’s stock.

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.