Immunome (NASDAQ:IMNM) Stock Price Up 7.6% – Time to Buy?

Immunome, Inc. (NASDAQ:IMNM – Get Free Report) was up 7.6% during trading on Tuesday. The stock traded as high as $18.08 and last traded at $18.0420. 732,787 shares were traded during trading, a decline of 46% from the average session volume of 1,358,075 shares. The stock had previously closed at $16.77.

Analyst Ratings Changes

Several brokerages have recently weighed in on IMNM. Truist Financial increased their price objective on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. William Blair initiated coverage on shares of Immunome in a report on Friday, October 16th. They issued an “outperform” rating on the stock. 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. Alliance Global Partners began coverage on shares of Immunome in a report on Monday, September 21st. They set a “buy” rating and a $32.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research report on Thursday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Immunome currently has an average rating of “Moderate Buy” and an average target price of $34.25.

View Our Latest Research Report on Immunome

Immunome Stock Performance

The company’s fifty day moving average is $23.74 and its 200-day moving average is $22.66. The company has a market capitalization of $2.04 billion, a PE ratio of -7.11 and a beta of 2.55.

Immunome (NASDAQ:IMNM – Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). On average, sell-side analysts expect that Immunome, Inc. will post -2.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jack Higgins sold 13,200 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $25.32, for a total transaction of $334,224.00. Following the sale, the insider directly owned 65,050 shares in the company, valued at $1,647,066. This trade represents a 16.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of Immunome stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the transaction, the insider owned 50,366 shares in the company, valued at approximately $1,263,682.94. This trade represents a 64.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 223,368 shares of company stock worth $5,747,142 over the last three months. 7.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP bought a new stake in Immunome during the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Immunome in the second quarter valued at about $27,000. KBC Group NV purchased a new position in shares of Immunome in the first quarter valued at about $60,000. GK Wealth Management LLC purchased a new position in shares of Immunome in the third quarter valued at about $71,000. Finally, Assetmark Inc. boosted its stake in shares of Immunome by 46.6% in the first quarter. Assetmark Inc. now owns 4,535 shares of the company’s stock worth $99,000 after acquiring an additional 1,442 shares during the period. Institutional investors own 44.58% of the company’s stock.

About Immunome

(Get Free Report)

Immunome, Inc (NASDAQ: IMNM) is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines. Its technology platform analyzes human immune responses to identify antibodies that may be developed into therapies for serious diseases.

The company’s research activities have included therapeutic programs in oncology and immunology, with an emphasis on antibodies designed to affect disease-driving biological pathways. Immunome has also conducted antibody discovery work related to infectious diseases, including SARS-CoV-2, as it has expanded its focus toward broader therapeutic applications.

Immunome is headquartered in Exton, Pennsylvania, and serves the global biopharmaceutical market through internal research and development activities and potential collaborations.

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