Wedbush Reaffirms Outperform Rating for Immunome (NASDAQ:IMNM)

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a report issued on Thursday,Benzinga reports. They presently have a $33.00 target price on the stock. Wedbush’s target price suggests a potential upside of 303.42% from the company’s previous close.

A number of other research firms have also weighed in on IMNM. Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of Immunome in a research note on Thursday. Lifesci Capital began coverage on shares of Immunome in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Guggenheim lowered their price objective on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome has a consensus rating of “Buy” and an average target price of $25.50.

Immunome Trading Down 5.5 %

IMNM stock opened at $8.18 on Thursday. The stock has a market cap of $652.58 million, a PE ratio of -1.01 and a beta of 1.93. Immunome has a 12 month low of $8.17 and a 12 month high of $26.70. The company has a 50-day moving average price of $9.76 and a 200 day moving average price of $11.57.

Immunome (NASDAQ:IMNM) last announced its earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.16). Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The business had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $3.07 million. Sell-side analysts forecast that Immunome will post -2.21 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Clay B. Siegall bought 150,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $7.75 per share, with a total value of $1,162,500.00. Following the transaction, the chief executive officer now owns 669,636 shares of the company’s stock, valued at $5,189,679. The trade was a 28.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Enavate Sciences GP LLC purchased a new position in Immunome in the fourth quarter valued at about $36,939,000. JPMorgan Chase & Co. lifted its position in shares of Immunome by 2,540.4% during the fourth quarter. JPMorgan Chase & Co. now owns 648,610 shares of the company’s stock valued at $6,888,000 after buying an additional 624,045 shares during the last quarter. Janus Henderson Group PLC boosted 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 buying an additional 324,614 shares in the last quarter. Granahan Investment Management LLC purchased a new position in shares of Immunome in the 4th quarter worth approximately $3,337,000. Finally, Renaissance Technologies LLC raised its stake in shares of Immunome by 2,696.5% during the 4th quarter. Renaissance Technologies LLC now owns 316,000 shares of the company’s stock worth $3,356,000 after acquiring an additional 304,700 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

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.