Immunome (NASDAQ:IMNM) Shares Up 5.7% – Here’s Why

Immunome, Inc. (NASDAQ:IMNM)’s stock price shot up 5.7% during mid-day trading on Tuesday . The company traded as high as $8.40 and last traded at $8.47. 289,824 shares were traded during mid-day trading, a decline of 68% from the average session volume of 917,562 shares. The stock had previously closed at $8.01.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Lifesci Capital initiated coverage on Immunome in a report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price objective for the company. Stephens reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Immunome in a research report on Thursday, March 20th. Guggenheim cut their target price on shares of Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $21.00 target price (down from $33.00) on shares of Immunome in a report on Tuesday, May 13th. Finally, Lake Street Capital initiated coverage on Immunome in a research report on Wednesday, April 2nd. They set a “buy” rating and a $23.00 price target on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome currently has an average rating of “Buy” and a consensus target price of $23.33.

Immunome Stock Performance

The stock’s fifty day moving average is $7.62 and its two-hundred day moving average is $9.77. The firm has a market cap of $745.17 million, a price-to-earnings ratio of -1.04 and a beta of 2.00.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. The company had revenue of $2.93 million during the quarter, compared to analyst estimates of $0.46 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. Sell-side analysts predict that Immunome, Inc. will post -2.21 earnings per share for the current year.

Insider Buying and Selling at Immunome

In related news, Director Jean Jacques Bienaime acquired 7,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $8.21 per share, with a total value of $57,470.00. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this link. Also, CEO Clay B. Siegall acquired 137,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average price of $7.29 per share, with a total value of $999,459.00. Following the completion of the acquisition, the chief executive officer now owns 806,736 shares of the company’s stock, valued at $5,881,105.44. This represents a 20.47% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 156,400 shares of company stock valued at $1,160,495. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IMNM. GAMMA Investing LLC grew its stake in shares of Immunome by 2,822.9% in the 1st quarter. GAMMA Investing LLC now owns 6,138 shares of the company’s stock valued at $410,000 after buying an additional 5,928 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Immunome in the fourth quarter valued at approximately $70,000. KLP Kapitalforvaltning AS bought a new stake in Immunome in the fourth quarter worth approximately $75,000. AlphaQuest LLC raised its holdings in shares of Immunome by 786,700.0% during the 4th quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock valued at $84,000 after purchasing an additional 7,867 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Immunome by 482.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock valued at $91,000 after purchasing an additional 7,129 shares during the last quarter. Hedge funds and other 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.