Immunome (NASDAQ:IMNM) Trading Down 5.6% After Insider Selling

Immunome, Inc. (NASDAQ:IMNM) fell 5.6% on Monday following insider selling activity. The company traded as low as $14.05 and last traded at $14.15. 319,038 shares traded hands during trading, a decline of 59% from the average session volume of 780,663 shares. The stock had previously closed at $14.99.

Specifically, CFO Max Rosett sold 14,380 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction of $230,223.80. Following the completion of the transaction, the chief financial officer now owns 47,476 shares in the company, valued at $760,090.76. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Analyst Ratings Changes

A number of research firms recently commented on IMNM. Piper Sandler lowered their price target on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome currently has a consensus rating of “Buy” and a consensus price target of $29.00.

Immunome Stock Performance

The business’s 50 day moving average is $14.54 and its two-hundred day moving average is $16.04. The firm has a market capitalization of $848.56 million, a PE ratio of -1.99 and a beta of 1.77.

Immunome (NASDAQ:IMNM) last announced its quarterly 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 net margin of 2,435.02% and a negative return on equity of 38.19%. The company had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $2.62 million. As a group, equities research analysts predict that Immunome, Inc. will post -1.92 EPS for the current year.

Institutional Investors Weigh In On Immunome

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after buying an additional 918 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in shares of Immunome by 18.2% in the 2nd quarter. Clear Creek Financial Management LLC now owns 26,188 shares of the company’s stock valued at $317,000 after acquiring an additional 4,035 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after acquiring an additional 4,129 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Immunome by 21,864.0% during the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock valued at $136,000 after acquiring an additional 5,466 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Immunome during the second quarter worth about $81,000. 44.58% of the stock is currently 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.