Immunome (NASDAQ:IMNM) Stock Price Up 4.4% After Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s stock price traded up 4.4% during trading on Thursday following insider buying activity. The stock traded as high as $7.68 and last traded at $7.40. 229,972 shares traded hands during trading, a decline of 73% from the average session volume of 836,334 shares. The stock had previously closed at $7.09.

Specifically, CEO Clay B. Siegall acquired 137,100 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of $7.29 per share, for a total transaction of $999,459.00. Following the completion of the transaction, the chief executive officer now directly owns 806,736 shares of the company’s stock, valued at approximately $5,881,105.44. The trade was a 20.47 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Philip Tsai bought 12,300 shares of the stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $8.42 per share, with a total value of $103,566.00. Following the acquisition, the chief technology officer now directly owns 33,300 shares in the company, valued at approximately $280,386. The trade was a 58.57 % increase in their position. The disclosure for this purchase can be found here. In other news, Director Jean Jacques Bienaime purchased 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $8.21 per share, for a total transaction of $57,470.00. Following the acquisition, the director now owns 23,615 shares of the company’s stock, valued at approximately $193,879.15. This trade represents a 42.13 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Lifesci Capital began coverage on shares of Immunome in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price objective for the company. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Immunome in a report on Thursday, March 20th. Guggenheim cut their price objective on Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Wedbush reiterated an “outperform” rating and set a $33.00 target price on shares of Immunome in a research report on Thursday, March 20th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $25.50.

Immunome Stock Up 2.7 %

The firm has a 50 day moving average of $9.56 and a 200-day moving average of $11.38. The company has a market cap of $633.00 million, a P/E ratio of -0.90 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The firm had revenue of $2.74 million for the quarter, compared to the consensus estimate of $3.07 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. On average, research analysts predict that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in shares of Immunome in the 4th quarter worth approximately $70,000. KLP Kapitalforvaltning AS purchased a new stake in Immunome during the fourth quarter worth $75,000. AlphaQuest LLC lifted its holdings in Immunome by 786,700.0% during the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock worth $84,000 after buying an additional 7,867 shares during the period. Tower Research Capital LLC TRC boosted its position in Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock valued at $91,000 after acquiring an additional 7,129 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Immunome in the 4th quarter worth $95,000. 44.58% of the stock is currently owned by 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.