Immunome (NASDAQ:IMNM) Posts Quarterly Earnings Results

Immunome (NASDAQ:IMNM) issued its quarterly earnings results on Tuesday. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.12, FiscalAI reports.

Immunome Price Performance

Shares of IMNM traded down $0.37 during midday trading on Wednesday, hitting $22.32. 216,876 shares of the company traded hands, compared to its average volume of 1,368,235. Immunome has a one year low of $7.42 and a one year high of $27.65. The firm has a market cap of $2.53 billion, a P/E ratio of -9.30 and a beta of 2.11. The stock has a 50-day moving average of $21.98 and a 200-day moving average of $21.10.

Insider Activity

In related news, insider Jack Higgins sold 9,438 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $21.64, for a total transaction of $204,238.32. Following the completion of the transaction, the insider owned 22,000 shares of the company’s stock, valued at approximately $476,080. The trade was a 30.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Philip Wagenheim sold 36,800 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $20.47, for a total transaction of $753,296.00. Following the sale, the director directly owned 369,347 shares in the company, valued at $7,560,533.09. This trade represents a 9.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 139,438 shares of company stock worth $2,964,664. 7.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Immunome by 81.8% in the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after buying an additional 2,909 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Immunome by 121.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock worth $65,000 after buying an additional 3,802 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Immunome in the 3rd quarter worth about $76,000. Velan Capital Investment Management LP purchased a new stake in shares of Immunome in the 3rd quarter valued at about $117,000. Finally, Quarry LP purchased a new stake in shares of Immunome in the 3rd quarter valued at about $117,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Immunome from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Craig Hallum boosted their price target on shares of Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Immunome in a report on Wednesday. Stephens reduced their price objective on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Immunome currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.45.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.