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

Immunome, Inc. (NASDAQ:IMNM) shares gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $6.95, but opened at $7.44. Immunome shares last traded at $7.26, with a volume of 247,799 shares traded.

Specifically, CEO Clay B. Siegall acquired 137,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average cost of $7.29 per share, with a total value of $999,459.00. Following the acquisition, the chief executive officer now owns 806,736 shares in the company, valued at approximately $5,881,105.44. This represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Philip Tsai bought 12,300 shares of the stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the acquisition, the chief technology officer now directly owns 33,300 shares in the company, valued at approximately $280,386. This trade represents a 58.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Director Jean Jacques Bienaime purchased 7,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were purchased at an average cost of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the transaction, the director now directly owns 23,615 shares in the company, valued at approximately $193,879.15. This represents a 42.13 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

IMNM has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Immunome in a research report on Thursday, March 20th. Lifesci Capital began coverage on shares of Immunome in a report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 price target for the company. 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 note on Thursday, March 20th. Finally, Stephens restated an “overweight” rating and set a $30.00 price target on shares of Immunome in a report on Thursday, March 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $25.50.

Immunome Stock Up 2.7 %

The firm has a market cap of $633.00 million, a P/E ratio of -0.90 and a beta of 1.93. The business has a fifty day simple moving average of $9.56 and a 200-day simple moving average of $11.38.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.74 million for the quarter, compared to the consensus estimate of $3.07 million. On average, sell-side analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Institutional Trading of Immunome

Several institutional investors have recently bought and sold shares of IMNM. Wellington Management Group LLP lifted its stake in shares of Immunome by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 145,564 shares of the company’s stock worth $1,546,000 after buying an additional 4,874 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Immunome by 5.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,505 shares of the company’s stock valued at $441,000 after acquiring an additional 2,005 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Immunome by 32.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,193 shares of the company’s stock valued at $618,000 after acquiring an additional 14,328 shares in the last quarter. Woodline Partners LP boosted its stake in Immunome by 6.1% during the 4th quarter. Woodline Partners LP now owns 980,925 shares of the company’s stock valued at $10,417,000 after purchasing an additional 56,533 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Immunome in the 4th quarter worth $512,000. 44.58% of the stock is owned by hedge funds and other 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.