Wedbush Reiterates “Outperform” Rating for Immunome (NASDAQ:IMNM)

Wedbush reiterated their outperform rating on shares of Immunome (NASDAQ:IMNM) in a report issued on Tuesday,RTT News reports. Wedbush currently has a $21.00 price target on the stock, down from their prior price target of $33.00.

A number of other research firms have also recently commented on IMNM. Lifesci Capital initiated coverage on Immunome in a research report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 target price on the stock. Lake Street Capital initiated coverage on Immunome in a research report on Wednesday, April 2nd. They set a “buy” rating and a $23.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $30.00 target price on shares of Immunome in a research report on Thursday, March 20th. Finally, Guggenheim cut their target price on Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $23.33.

Immunome Price Performance

Immunome stock opened at $7.91 on Tuesday. Immunome has a 1-year low of $5.15 and a 1-year high of $16.81. The stock has a market cap of $688.26 million, a PE ratio of -0.98 and a beta of 2.00. The stock’s fifty day moving average is $7.71 and its two-hundred day moving average is $9.90.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. The company had revenue of $2.93 million for the quarter, compared to analysts’ expectations of $0.46 million. On average, research analysts expect that Immunome will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Clay B. Siegall purchased 137,100 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average price of $7.29 per share, with a total value of $999,459.00. Following the completion of the acquisition, the chief executive officer now directly owns 806,736 shares in the company, valued at $5,881,105.44. This represents a 20.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Philip Tsai purchased 12,300 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the acquisition, the chief technology officer now owns 33,300 shares of the company’s stock, valued at approximately $280,386. The trade was a 58.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 156,400 shares of company stock valued at $1,160,495 over the last quarter. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunome

A number of hedge funds and other institutional investors have recently made changes to their positions in IMNM. BNP Paribas Financial Markets purchased a new position in shares of Immunome during the fourth quarter worth about $70,000. KLP Kapitalforvaltning AS purchased a new stake in Immunome in the 4th quarter valued at approximately $75,000. AlphaQuest LLC boosted its holdings in Immunome by 786,700.0% in the 4th quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock valued at $84,000 after purchasing an additional 7,867 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Immunome by 482.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock valued at $91,000 after purchasing an additional 7,129 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in Immunome in the 4th quarter valued at approximately $95,000. Hedge funds and other institutional investors 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.