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

Immunome, Inc. (NASDAQ:IMNM)’s stock price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $10.32, but opened at $11.16. Immunome shares last traded at $10.87, with a volume of 472,104 shares trading hands.

Specifically, CEO Clay B. Siegall purchased 150,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 669,636 shares in the company, valued at $5,189,679. This represents a 28.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several research firms recently issued reports on IMNM. Piper Sandler lowered their price objective on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Stephens assumed coverage on Immunome in a report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a report on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $28.60.

Immunome Trading Up 6.8 %

The business’s 50 day simple moving average is $11.30 and its two-hundred day simple moving average is $12.66. The firm has a market capitalization of $738.43 million, a PE ratio of -1.46 and a beta of 1.90.

Institutional Trading of Immunome

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in Immunome by 10.3% in the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after purchasing an additional 324,614 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Immunome by 217.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock worth $6,469,000 after buying an additional 302,916 shares during the last quarter. Victory Capital Management Inc. grew its position in Immunome by 48.1% during the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after buying an additional 237,497 shares during the period. Geode Capital Management LLC increased its holdings in Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock valued at $17,657,000 after buying an additional 144,557 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Immunome by 22.2% in the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock worth $6,881,000 after acquiring an additional 85,580 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Immunome

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.