HC Wainwright Reiterates Buy Rating for Immunome (NASDAQ:IMNM)

Key Points

• HC Wainwright reiterated its Buy rating on Immunome and maintained a $40 price target, implying approximately 54.7% upside from the stock’s reported $25.86 price.
• Analyst sentiment is broadly positive: 12 analysts rate Immunome a Buy and one rates it a Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $34.64.
• Immunome reported a quarterly loss of $0.65 per share, missing the $0.51 consensus estimate, while insiders sold 682,310 shares worth roughly $15.7 million over the past three months.

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $40.00 price target on the stock. HC Wainwright's price target would indicate a potential upside of 54.67% from the company's current price.

IMNM has been the topic of several other research reports. Citigroup reaffirmed a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Wedbush upped their price objective on Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Immunome in a report on Friday, July 17th. Truist Financial boosted their target price on Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen downgraded Immunome from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Immunome has an average rating of "Moderate Buy" and a consensus target price of $34.64.

Immunome Price Performance

NASDAQ:IMNM opened at $25.86 on Thursday. The firm has a 50-day moving average of $25.28 and a 200-day moving average of $22.67. The company has a market cap of $2.94 billion, a PE ratio of -10.14 and a beta of 2.13. Immunome has a one year low of $8.93 and a one year high of $30.06.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). On average, equities research analysts expect that Immunome will post -2.38 earnings per share for the current fiscal year.

Insider Activity at Immunome

In other Immunome news, insider Robert Lechleider sold 55,000 shares of the business's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $19.85, for a total value of $1,091,750.00. Following the sale, the insider directly owned 15,805 shares of the company's stock, valued at approximately $313,729.25. The trade was a 77.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 101,050 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the completion of the transaction, the director owned 308,504 shares of the company's stock, valued at approximately $6,515,604.48. The trade was a 24.67% 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 valued at $15,675,566 in the last three months. Corporate insiders own 7.21% of the company's stock.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMNM. Allworth Financial LP purchased a new position in shares of Immunome during the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in Immunome during the 2nd quarter valued at approximately $27,000. KBC Group NV bought a new stake in Immunome in the 1st quarter worth approximately $60,000. BNP Paribas Financial Markets raised its holdings in shares of Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock worth $60,000 after acquiring an additional 2,909 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Immunome by 121.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company's stock worth $65,000 after acquiring an additional 3,802 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Company Profile

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.

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