Immunome (NASDAQ:IMNM) Trading Down 4.7%

Immunome, Inc. (NASDAQ:IMNM)’s share price was down 4.7% during trading on Tuesday . The company traded as low as $13.89 and last traded at $13.94. Approximately 53,119 shares changed hands during trading, a decline of 93% from the average daily volume of 783,554 shares. The stock had previously closed at $14.62.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Immunome in a report on Tuesday, August 13th. Piper Sandler reduced their price objective 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome presently has a consensus rating of “Buy” and a consensus target price of $29.00.

Immunome Price Performance

The firm has a 50 day moving average of $14.59 and a two-hundred day moving average of $15.60. The stock has a market cap of $826.37 million, a PE ratio of -1.81 and a beta of 1.77.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.62 million. As a group, equities analysts anticipate that Immunome, Inc. will post -1.92 EPS for the current fiscal year.

Insider Activity at Immunome

In other news, insider Jack Higgins sold 3,524 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares of the company’s stock, valued at approximately $222,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Immunome news, Director Jean Jacques Bienaime purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $13.94 per share, for a total transaction of $97,580.00. Following the purchase, the director now directly owns 16,615 shares in the company, valued at $231,613.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jack Higgins sold 3,524 shares of Immunome stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the transaction, the insider now 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 Investors Weigh In On Immunome

Several hedge funds have recently made changes to their positions in IMNM. EntryPoint Capital LLC raised its stake in 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. Quest Partners LLC acquired a new position in shares of Immunome in the second quarter valued at approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Immunome during the second quarter worth approximately $97,000. Arizona State Retirement System lifted its holdings in shares of Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares during the period. Finally, AQR Capital Management LLC increased its stake in 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 buying an additional 4,129 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.