Immunome (NASDAQ:IMNM) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Immunome (NASDAQ:IMNM) from a sell rating to a strong sell rating in a report issued on Sunday morning,Wall Street Zen reports.

IMNM has been the subject of a number of other research reports. Wedbush raised 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. Stifel Nicolaus assumed coverage on Immunome in a report on Wednesday, September 30th. They issued a “hold” rating and a $24.00 target price for the company. Alliance Global Partners initiated coverage on Immunome in a research report on Monday, September 21st. They set a “buy” rating and a $32.00 target price for the company. Citigroup reaffirmed a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Immunome in a research report on Thursday, September 10th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Immunome has a consensus rating of “Moderate Buy” and an average target price of $34.25.

Immunome Stock Performance

Shares of IMNM stock opened at $19.31 on Friday. The firm has a fifty day moving average of $25.24 and a 200-day moving average of $22.87. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -7.63 and a beta of 2.55. Immunome has a 52-week low of $13.41 and a 52-week high of $30.06.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). On average, sell-side analysts predict that Immunome will post -2.43 earnings per share for the current year.

Insider Activity

In related news, insider Jack Higgins sold 13,200 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the sale, the insider directly owned 65,050 shares in the company, valued at $1,647,066. This represents a 16.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total value of $2,273,555.44. Following the sale, the insider directly owned 50,366 shares of the company’s stock, valued at $1,263,682.94. This represents a 64.27% 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. Over the last 90 days, insiders sold 223,368 shares of company stock worth $5,747,142. Insiders own 7.21% of the company’s stock.

Institutional Trading of Immunome

Several large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Immunome in the second quarter valued at $186,588,000. Wellington Management Group LLP lifted its position in Immunome by 10.1% during the 2nd quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company’s stock worth $110,404,000 after buying an additional 478,239 shares in the last quarter. Primecap Management Co. CA acquired a new position in Immunome during the 2nd quarter worth about $97,081,000. Sofinnova Investments Inc. grew its holdings in Immunome by 271.2% during the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock worth $34,765,000 after acquiring an additional 1,182,426 shares during the last quarter. Finally, Readystate Asset Management LP grew its holdings in Immunome by 23.3% during the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock worth $34,027,000 after acquiring an additional 303,958 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

About Immunome

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome’s research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.