Immunome (NASDAQ:IMNM) Releases Earnings Results, Misses Expectations By $0.14 EPS

Immunome (NASDAQ:IMNM) announced its quarterly earnings data on Tuesday. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14), FiscalAI reports.

Immunome Stock Up 2.2%

IMNM stock traded up $0.56 during mid-day trading on Tuesday, hitting $26.25. 872,357 shares of the company were exchanged, compared to its average volume of 1,380,494. Immunome has a 12-month low of $8.66 and a 12-month high of $27.65. The firm has a market capitalization of $2.97 billion, a P/E ratio of -11.03 and a beta of 2.07. The business has a fifty day simple moving average of $21.59 and a 200-day simple moving average of $22.17.

Insider Activity at Immunome

In other news, CFO Max Rosett sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $18.23, for a total value of $1,093,800.00. Following the transaction, the chief financial officer directly owned 54,037 shares in the company, valued at approximately $985,094.51. This represents a 52.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the transaction, the insider directly owned 50,366 shares of the company’s stock, valued at $1,263,682.94. The trade was a 64.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 598,846 shares of company stock valued at $13,476,656. 7.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Immunome

A number of institutional investors have recently modified their holdings of IMNM. Creative Planning lifted its stake in Immunome by 4.0% during the 3rd quarter. Creative Planning now owns 18,664 shares of the company’s stock worth $219,000 after acquiring an additional 710 shares in the last quarter. Russell Investments Group Ltd. grew its position in Immunome by 14.4% in the 4th quarter. Russell Investments Group Ltd. now owns 7,417 shares of the company’s stock valued at $159,000 after acquiring an additional 935 shares in the last quarter. California State Teachers Retirement System increased its stake in Immunome by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 67,012 shares of the company’s stock worth $1,439,000 after purchasing an additional 1,167 shares during the period. Virtus Investment Advisers LLC increased its stake in Immunome by 16.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 13,593 shares of the company’s stock worth $292,000 after purchasing an additional 1,970 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Immunome by 81.8% during the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after purchasing an additional 2,909 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IMNM. Leerink Partners decreased their target price on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $31.00 price target on shares of Immunome in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a report on Friday, July 17th. Citigroup reiterated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Finally, HC Wainwright reissued a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.18.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.