Immunome (NASDAQ:IMNM) Coverage Initiated at Alliance Global Partners

Analysts at Alliance Global Partners started coverage on shares of Immunome (NASDAQ:IMNM) in a research note issued to investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $32.00 price target on the stock. Alliance Global Partners’ price target would indicate a potential upside of 24.27% from the stock’s previous close.

A number of other research firms have also recently commented on IMNM. Citigroup reiterated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Wall Street Zen cut Immunome from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Truist Financial boosted their price objective on Immunome from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Friday, July 17th. Finally, Wedbush increased their price target on shares of Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Immunome has an average rating of “Moderate Buy” and an average price target of $35.18.

Immunome Stock Up 2.7%

Shares of IMNM opened at $25.75 on Monday. Immunome has a 52-week low of $9.85 and a 52-week high of $30.06. The stock has a 50 day moving average price of $25.44 and a 200 day moving average price of $22.83. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -10.18 and a beta of 2.13.

Immunome (NASDAQ:IMNM) last posted its earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). On average, equities analysts anticipate that Immunome will post -2.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kinney Horn sold 90,616 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total value of $2,273,555.44. Following the completion of the sale, the insider directly owned 50,366 shares of the company’s stock, valued at $1,263,682.94. This trade represents a 64.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total transaction of $301,058.00. Following the sale, the director owned 92,211 shares in the company, valued at $2,512,749.75. The trade was a 10.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 635,510 shares of company stock valued at $14,915,990 over the last three months. 7.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunome

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Immunome during the 2nd quarter worth approximately $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Immunome in the second quarter valued at $576,000. Readystate Asset Management LP grew its holdings in Immunome by 23.3% in the second quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock valued at $34,027,000 after purchasing an additional 303,958 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Immunome in the second quarter valued at $552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Immunome by 0.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,636 shares of the company’s stock worth $3,997,000 after buying an additional 1,625 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Company Profile

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapies for cancer and other serious diseases. The company uses proprietary antibody discovery and engineering technologies designed to identify therapeutic candidates from human immune responses and advance them into clinical development.

Immunome’s activities include the development of novel immunotherapies and targeted biologic medicines, with research programs aimed at addressing significant unmet needs in oncology and inflammatory or immune-mediated diseases.