Immunome (NASDAQ:IMNM) Stock Price Down 7% on Analyst Downgrade

Shares of Immunome, Inc. (NASDAQ:IMNM) fell 7% on Thursday after Piper Sandler lowered their price target on the stock from $23.00 to $21.00. Piper Sandler currently has an overweight rating on the stock. Immunome traded as low as $10.72 and last traded at $10.78. 270,345 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 751,930 shares. The stock had previously closed at $11.59.

IMNM has been the topic of several other research reports. Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Immunome in a research note on Friday, October 25th. Stephens began coverage on shares of Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 target price on the stock. Seven 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 a consensus target price of $28.83.

Insider Activity

In other news, CFO Max Rosett sold 14,380 shares of the firm’s 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 approximately $760,090.76. This trade represents a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Immunome by 125.9% in the third quarter. Barclays PLC now owns 105,886 shares of the company’s stock worth $1,547,000 after buying an additional 59,016 shares during the period. XTX Topco Ltd acquired a new position in shares of Immunome in the third quarter worth about $363,000. Wellington Management Group LLP boosted its holdings in shares of Immunome by 137.1% in the third quarter. Wellington Management Group LLP now owns 140,690 shares of the company’s stock worth $2,057,000 after buying an additional 81,354 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Immunome by 22.2% in the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock worth $6,881,000 after buying an additional 85,580 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Immunome by 10.3% in the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after buying an additional 324,614 shares during the period. Institutional investors own 44.58% of the company’s stock.

Immunome Price Performance

The firm’s fifty day simple moving average is $13.12 and its 200 day simple moving average is $13.80. The company has a market capitalization of $594.83 million, a price-to-earnings ratio of -1.22 and a beta of 1.82.

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.