Immunome, Inc. (NASDAQ:IMNM) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Immunome, Inc. (NASDAQ:IMNM) has received an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $34.25.

Several research firms have recently weighed in on IMNM. Alliance Global Partners began coverage on shares of Immunome in a research note on Monday, September 21st. They set a “buy” rating and a $32.00 price objective on the stock. Truist Financial boosted their target price 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. Wall Street Zen downgraded Immunome from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Wedbush boosted their target price on shares of Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Immunome in a research report on Thursday, September 10th.

Insider Activity

In related news, insider Kinney Horn sold 90,616 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total value of $2,273,555.44. Following the completion of the transaction, the insider owned 50,366 shares in the company, valued at $1,263,682.94. This trade represents a 64.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 62,291 shares of Immunome stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.23, for a total value of $1,633,892.93. Following the completion of the transaction, the director directly owned 92,211 shares in the company, valued at approximately $2,418,694.53. This represents a 40.32% decrease in their ownership of the stock. 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 ninety days, insiders sold 223,368 shares of company stock worth $5,747,142. Insiders own 7.21% of the company’s stock.

Institutional Investors Weigh In On Immunome

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in Immunome in the 1st quarter worth about $1,507,000. California State Teachers Retirement System grew its stake in shares of Immunome by 66.3% during the 1st quarter. California State Teachers Retirement System now owns 111,444 shares of the company’s stock worth $2,437,000 after acquiring an additional 44,432 shares during the period. Readystate Asset Management LP increased its stake in shares of Immunome by 23.3% in the second quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock worth $34,027,000 after purchasing an additional 303,958 shares in the last quarter. Legal & General Group Plc bought a new stake in Immunome during the 2nd quarter valued at $1,899,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Immunome during the 2nd quarter valued at $3,664,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Immunome Stock Down 8.2%

Shares of IMNM opened at $17.58 on Wednesday. Immunome has a twelve month low of $13.53 and a twelve month high of $30.06. The company has a 50 day moving average of $24.79 and a 200-day moving average of $22.82. The stock has a market capitalization of $2.00 billion, a P/E ratio of -6.95 and a beta of 2.55.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). On average, sell-side analysts anticipate that Immunome will post -2.51 earnings per share for the current fiscal year.

Immunome Company Profile

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome’s research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.