Immunome (NASDAQ:IMNM) Stock Price Down 5.7% – Time to Sell?

Immunome, Inc. (NASDAQ:IMNM) shares were down 5.7% on Friday . The company traded as low as $10.47 and last traded at $10.47. Approximately 110,281 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 779,801 shares. The stock had previously closed at $11.10.

Wall Street Analyst Weigh In

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

Immunome Stock Performance

The firm has a market cap of $657.88 million, a PE ratio of -1.30 and a beta of 1.83. The company’s 50-day simple moving average is $12.01 and its two-hundred day simple moving average is $13.18.

Insider Transactions at Immunome

In other Immunome news, CTO Philip Tsai bought 21,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price of $9.43 per share, for a total transaction of $198,030.00. Following the completion of the acquisition, the chief technology officer now directly owns 21,000 shares in the company, valued at $198,030. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall purchased 66,057 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $9.54 per share, with a total value of $630,183.78. Following the purchase, 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 disclosure for this purchase can be found here. Over the last ninety days, insiders bought 102,862 shares of company stock worth $978,045. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in Immunome by 0.3% during the 3rd quarter. FMR LLC now owns 4,224,700 shares of the company’s stock valued at $61,765,000 after acquiring an additional 13,757 shares in the last quarter. Janus Henderson Group PLC lifted its stake 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 during the period. Marshall Wace LLP boosted its position in shares of Immunome by 228.5% during the second quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after purchasing an additional 1,191,774 shares in the last quarter. Geode Capital Management LLC grew its stake in Immunome by 13.6% in the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after purchasing an additional 144,557 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Immunome by 48.1% in the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after purchasing an additional 237,497 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

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.