Immunome (NASDAQ:IMNM) Shares Gap Up Following Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM) gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $9.82, but opened at $11.10. Immunome shares last traded at $11.18, with a volume of 336,877 shares traded.

Specifically, CTO Philip Tsai bought 21,000 shares of Immunome stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $9.43 per share, with a total value of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at approximately $198,030. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Lechleider purchased 15,805 shares of Immunome stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the transaction, the insider now owns 15,805 shares in the company, valued at approximately $149,831.40. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In other Immunome news, CEO Clay B. Siegall bought 66,057 shares of Immunome stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the transaction, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at $4,633,511.22. This trade represents a 15.74 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IMNM shares. Wedbush restated an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a report on Friday, October 25th. Stephens initiated coverage on Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Piper Sandler dropped their price objective on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome has a consensus rating of “Buy” and an average price target of $28.83.

Immunome Stock Up 3.4 %

The firm has a market cap of $719.70 million, a PE ratio of -1.42 and a beta of 1.82. The business has a 50-day moving average price of $12.49 and a two-hundred day moving average price of $13.55.

Institutional Investors Weigh In On Immunome

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Immunome by 113.6% during 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 period. Marshall Wace LLP grew its holdings in Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after acquiring an additional 1,191,774 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Immunome in the 1st quarter valued at approximately $14,660,000. Janus Henderson Group PLC raised its holdings in shares of Immunome by 10.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after purchasing an additional 324,614 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Immunome by 217.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock worth $6,469,000 after purchasing an additional 302,916 shares during the last quarter. Institutional investors and hedge funds 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.