Insider Buying: Immunome, Inc. (NASDAQ:IMNM) CEO Buys $630,183.78 in Stock

Immunome, Inc. (NASDAQ:IMNM) CEO Clay B. Siegall acquired 66,057 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $9.54 per share, with a total value of $630,183.78. Following the completion of the acquisition, the chief executive officer now directly owns 485,693 shares in the company, valued at approximately $4,633,511.22. The trade was a 15.74 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Immunome Trading Up 16.8 %

Immunome stock opened at $13.47 on Thursday. The firm has a market capitalization of $840.80 million, a P/E ratio of -1.65 and a beta of 1.82. Immunome, Inc. has a 1 year low of $6.93 and a 1 year high of $30.96. The business has a 50-day moving average of $12.41 and a 200-day moving average of $13.52.

Hedge Funds Weigh In On Immunome

Several institutional investors have recently modified their holdings of IMNM. Sofinnova Investments Inc. grew its position in shares of Immunome by 10.3% in the 2nd quarter. Sofinnova Investments Inc. now owns 655,680 shares of the company’s stock valued at $7,934,000 after purchasing an additional 61,284 shares during the period. Cetera Investment Advisers acquired a new position in shares of Immunome in the 1st quarter valued at approximately $3,038,000. Victory Capital Management Inc. grew its position in shares of Immunome by 48.1% in the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after purchasing an additional 237,497 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after purchasing an additional 1,194,451 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in shares of Immunome in the 2nd quarter valued at approximately $1,379,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.