Immunome, Inc. (NASDAQ:IMNM) Short Interest Update

Immunome, Inc. (NASDAQ:IMNM) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 12,440,000 shares, a decline of 6.4% from the August 31st total of 13,290,000 shares. Approximately 25.4% of the shares of the company are sold short. Based on an average daily volume of 767,000 shares, the short-interest ratio is presently 16.2 days.

Analyst Upgrades and Downgrades

Several research firms have commented on IMNM. Piper Sandler dropped their price objective on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $29.00.

Immunome Stock Up 1.7 %

Shares of NASDAQ IMNM opened at $14.62 on Tuesday. The company has a market cap of $876.75 million, a P/E ratio of -1.94 and a beta of 1.77. Immunome has a 52 week low of $6.93 and a 52 week high of $30.96. The business has a 50-day simple moving average of $14.59 and a two-hundred day simple moving average of $15.60.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.11). Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. The business had revenue of $2.36 million for the quarter, compared to the consensus estimate of $2.62 million. Equities research analysts anticipate that Immunome will post -1.92 EPS for the current year.

Insider Transactions at Immunome

In related news, CFO Max Rosett sold 14,380 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction of $230,223.80. Following the completion of the transaction, the chief financial officer now owns 47,476 shares in the company, valued at $760,090.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Immunome news, insider Jack Higgins sold 3,524 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total value of $49,089.32. Following the sale, the insider now directly owns 16,000 shares in the company, valued at $222,880. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at approximately $760,090.76. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Avidity Partners Management LP bought a new position in shares of Immunome in the 4th quarter worth approximately $14,268,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Immunome by 113.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after buying an additional 1,194,451 shares during the last quarter. Marshall Wace LLP grew its position in shares of Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after acquiring an additional 1,191,774 shares during the period. Redmile Group LLC lifted its position in Immunome by 26.0% during the first quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock valued at $120,674,000 after purchasing an additional 1,010,139 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in Immunome during the first quarter valued at about $14,660,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.