Immunome, Inc. (NASDAQ:IMNM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Immunome, Inc. (NASDAQ:IMNM) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $34.6364.

A number of equities research analysts have recently issued reports on IMNM shares. Citigroup reiterated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. HC Wainwright restated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Wedbush upped their price target on shares of Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Barclays began coverage on shares of Immunome in a research note on Thursday, May 28th. They issued an “overweight” rating and a $36.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of Immunome from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th.

Immunome Stock Down 1.8%

Shares of IMNM stock opened at $28.01 on Tuesday. Immunome has a 12 month low of $8.66 and a 12 month high of $30.06. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -11.07 and a beta of 2.07. The stock has a 50-day moving average price of $23.39 and a 200 day moving average price of $22.33.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). Sell-side analysts predict that Immunome will post -2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kinney Horn sold 90,616 shares of the stock in a transaction 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 sale, the insider directly owned 50,366 shares of the company’s stock, valued at approximately $1,263,682.94. This represents a 64.27% decrease in their position. The transaction was disclosed in a document filed 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 Robert Lechleider sold 55,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total value of $1,244,100.00. Following the sale, the insider owned 15,805 shares of the company’s stock, valued at $357,509.10. The trade was a 77.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 682,310 shares of company stock worth $15,675,566 over the last three months. Insiders own 7.21% of the company’s stock.

Institutional Trading of Immunome

Several hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its position in shares of Immunome by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock worth $288,305,000 after acquiring an additional 5,003,824 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Immunome during the second quarter valued at about $186,588,000. Vanguard Group Inc. raised its position in shares of Immunome by 23.4% during the fourth quarter. Vanguard Group Inc. now owns 6,038,414 shares of the company’s stock worth $129,705,000 after purchasing an additional 1,144,788 shares during the period. Wellington Management Group LLP raised its holdings in shares of Immunome by 10.1% in the 2nd quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company’s stock worth $110,404,000 after acquiring an additional 478,239 shares during the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of Immunome by 55.2% during the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock valued at $100,643,000 after buying an additional 1,667,432 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

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.