Immunome (NASDAQ:IMNM) Stock Price Down 3.3%

Immunome, Inc. (NASDAQ:IMNM)’s stock price fell 3.3% during trading on Tuesday . The stock traded as low as $15.11 and last traded at $15.27. 616,752 shares traded hands during trading, a decline of 20% from the average session volume of 768,748 shares. The stock had previously closed at $15.79.

Analysts Set New Price Targets

Several brokerages recently commented on IMNM. Wedbush reiterated an “outperform” rating and set a $33.00 target price on shares of Immunome in a report on Tuesday, August 13th. Piper Sandler dropped their target price on Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Immunome Price Performance

The company has a 50-day simple moving average of $14.47 and a two-hundred day simple moving average of $16.24. The stock has a market capitalization of $916.93 million, a price-to-earnings ratio of -2.03 and a beta of 1.77.

Immunome (NASDAQ:IMNM) last issued its earnings results on Monday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.11). Immunome had a negative return on equity of 38.19% and a negative net margin of 2,435.02%. The company had revenue of $2.36 million during the quarter, compared to analyst estimates of $2.62 million. Research analysts anticipate that Immunome, Inc. will post -1.92 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Avidity Partners Management LP acquired a new position in Immunome during the fourth quarter worth about $14,268,000. Price T Rowe Associates Inc. MD grew its holdings in Immunome by 113.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after acquiring an additional 1,194,451 shares during the period. Marshall Wace LLP grew its holdings in Immunome by 228.5% during the second quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after acquiring an additional 1,191,774 shares during the period. Redmile Group LLC grew its holdings in Immunome by 26.0% during the first quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock worth $120,674,000 after acquiring an additional 1,010,139 shares during the period. Finally, Farallon Capital Management LLC acquired a new position in Immunome during the first quarter worth about $14,660,000. 44.58% of the stock is owned by institutional investors and hedge funds.

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.