Immunome (NASDAQ:IMNM) Coverage Initiated by Analysts at Alliance Global Partners

Key Points

• Alliance Global Partners initiated coverage of Immunome with a “buy” rating and a $32 price target, implying 33.5% upside from the stock’s $23.97 opening price.
• Analyst sentiment is broadly positive: 13 analysts rate the stock a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and an average price target of $34.42.
• Immunome reported a quarterly loss of $0.65 per share, missing estimates by $0.14. Insiders have sold about $14.9 million worth of shares over the past 90 days, while institutional investors own 44.58% of the company.

Equities research analysts at Alliance Global Partners started coverage on shares of Immunome (NASDAQ:IMNM - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a "buy" rating and a $32.00 price target on the stock. Alliance Global Partners' price objective indicates a potential upside of 33.50% from the company's current price.

A number of other analysts have also recently weighed in on IMNM. Citigroup reaffirmed a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Wedbush raised their target price on shares of Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunome in a report on Friday, July 17th. Wall Street Zen downgraded Immunome from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Truist Financial increased their price objective on Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.42.

Immunome Stock Performance

Shares of NASDAQ:IMNM opened at $23.97 on Monday. The company has a market capitalization of $2.72 billion, a PE ratio of -9.47 and a beta of 2.13. Immunome has a 12-month low of $9.27 and a 12-month high of $30.06. The business's fifty day simple moving average is $25.33 and its 200-day simple moving average is $22.78.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings data 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). Research analysts predict that Immunome will post -2.38 EPS for the current year.

Insider Activity

In other Immunome news, insider Jack Higgins sold 13,200 shares of the company'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 completion of the transaction, the insider directly owned 65,050 shares in the company, valued at approximately $1,647,066. This represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total value of $301,058.00. Following the sale, the director owned 92,211 shares of the company's stock, valued at approximately $2,512,749.75. This trade represents a 10.70% 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 have sold 635,510 shares of company stock worth $14,915,990 in the last ninety days. Company insiders own 7.21% of the company's stock.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently made changes to their positions in IMNM. Integrated Wealth Concepts LLC purchased a new position in Immunome in the second quarter worth approximately $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Immunome in the second quarter valued at $576,000. Readystate Asset Management LP lifted its stake in shares of Immunome by 23.3% in the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company's stock valued at $34,027,000 after purchasing an additional 303,958 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Immunome in the 2nd quarter valued at $552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Immunome by 0.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,636 shares of the company's stock worth $3,997,000 after purchasing an additional 1,625 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Immunome Company Profile

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapies for cancer and other serious diseases. The company uses proprietary antibody discovery and engineering technologies designed to identify therapeutic candidates from human immune responses and advance them into clinical development.

Immunome's activities include the development of novel immunotherapies and targeted biologic medicines, with research programs aimed at addressing significant unmet needs in oncology and inflammatory or immune-mediated diseases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.