Immunome, Inc. (NASDAQ:IMNM) Sees Significant Increase in Short Interest

Immunome, Inc. (NASDAQ:IMNM) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 13,290,000 shares, an increase of 5.9% from the August 15th total of 12,550,000 shares. Based on an average daily trading volume, of 803,700 shares, the short-interest ratio is currently 16.5 days. Approximately 27.1% of the company’s stock are sold short.

Insider Activity at Immunome

In other Immunome news, insider Jack Higgins sold 3,524 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total value of $49,089.32. Following the sale, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jack Higgins sold 3,524 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the transaction, the insider now owns 16,000 shares in the company, valued at $222,880. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jean Jacques Bienaime acquired 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $13.94 per share, for a total transaction of $97,580.00. Following the completion of the transaction, the director now directly owns 16,615 shares of the company’s stock, valued at $231,613.10. The disclosure for this purchase can be found here. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently bought and sold shares of IMNM. Jump Financial LLC bought a new position in shares of Immunome during the 4th quarter valued at approximately $172,000. Mayo Clinic purchased a new stake in shares of Immunome in the fourth quarter worth $1,161,000. Avidity Partners Management LP bought a new stake in shares of Immunome during the 4th quarter valued at $14,268,000. Clear Creek Financial Management LLC bought a new stake in shares of Immunome during the 1st quarter valued at $547,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Immunome during the 1st quarter valued at $1,044,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Trading Up 0.6 %

IMNM stock traded up $0.10 during midday trading on Wednesday, reaching $15.50. 830,354 shares of the company’s stock traded hands, compared to its average volume of 772,880. Immunome has a 52-week low of $6.65 and a 52-week high of $30.96. The stock has a market cap of $929.52 million, a P/E ratio of -2.05 and a beta of 1.77. The stock’s 50-day moving average is $14.40 and its 200 day moving average is $16.25.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.11). The company had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $2.62 million. Immunome had a negative return on equity of 38.19% and a negative net margin of 2,435.02%. As a group, research analysts expect that Immunome will post -1.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a report on Tuesday, August 13th. Piper Sandler cut their price objective on Immunome from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $29.00.

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.