Immunome (NASDAQ:IMNM) Stock Price Down 7.1% – What’s Next?

Shares of Immunome, Inc. (NASDAQ:IMNM) fell 7.1% on Tuesday . The company traded as low as $9.24 and last traded at $9.33. 383,331 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 602,353 shares. The stock had previously closed at $10.04.

Analyst Upgrades and Downgrades

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

Immunome Trading Down 2.7 %

The company has a market capitalization of $614.21 million, a PE ratio of -1.21 and a beta of 1.90. The stock’s 50-day moving average is $11.59 and its two-hundred day moving average is $12.94.

Insider Buying and Selling

In related news, CEO Clay B. Siegall purchased 66,057 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $9.54 per share, with a total value of $630,183.78. Following the purchase, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Lechleider acquired 15,805 shares of the stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $9.48 per share, with a total value of $149,831.40. Following the completion of the transaction, the insider now owns 15,805 shares in the company, valued at $149,831.40. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 102,862 shares of company stock valued at $978,045. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of Immunome in the 2nd quarter worth $81,000. Arizona State Retirement System lifted its stake in Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after acquiring an additional 918 shares during the period. AQR Capital Management LLC lifted its stake in Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after acquiring an additional 4,129 shares during the period. Intech Investment Management LLC bought a new position in Immunome during the 3rd quarter worth about $219,000. Finally, Profund Advisors LLC purchased a new position in Immunome during the 2nd quarter valued at about $262,000. 44.58% of the stock is currently owned by hedge funds and other 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.