Immunome (NASDAQ:IMNM) Upgraded by Barclays to Strong-Buy Rating

Immunome (NASDAQ:IMNM) was upgraded by research analysts at Barclays to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

IMNM has been the subject of several other reports. Wall Street Zen upgraded shares of Immunome from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Stephens lowered their price objective on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Truist Financial upped their price objective on shares of Immunome from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research report on Tuesday, April 21st. Finally, Craig Hallum upped their price objective on shares of Immunome from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.

Immunome Trading Up 1.9%

Shares of NASDAQ:IMNM opened at $22.54 on Thursday. The firm has a 50 day moving average of $22.06 and a 200-day moving average of $21.58. The stock has a market capitalization of $2.55 billion, a PE ratio of -9.47 and a beta of 2.11. Immunome has a 12 month low of $7.96 and a 12 month high of $27.65.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, May 12th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.12. On average, research analysts predict that Immunome will post -2.26 EPS for the current fiscal year.

Insider Activity at Immunome

In related news, insider Jack Higgins sold 9,438 shares of the company’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 directly owned 22,000 shares in the company, valued at $476,080. This represents a 30.02% decrease in their position. The transaction was disclosed in a document filed 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 Jean Jacques Bienaime bought 5,000 shares of Immunome stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $20.70 per share, for a total transaction of $103,500.00. Following the completion of the acquisition, the director directly owned 43,415 shares in the company, valued at approximately $898,690.50. The trade was a 13.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 139,438 shares of company stock valued at $2,964,664 in the last quarter. 7.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunome

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new stake in Immunome during the 1st quarter worth approximately $60,000. Strs Ohio bought a new stake in Immunome during the 4th quarter worth approximately $64,000. Assetmark Inc. bought a new stake in Immunome during the 3rd quarter worth approximately $39,000. Aster Capital Management DIFC Ltd bought a new stake in Immunome during the 4th quarter worth approximately $121,000. Finally, BIT Capital GmbH bought a new stake in Immunome during the 3rd quarter worth approximately $69,000. 44.58% of the stock is owned by institutional investors.

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.