Immunome (NASDAQ:IMNM) Given New $23.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut its price target on Immunome from $24 to $23 and maintained a Hold rating; the new target implies 23.26% upside from the stock’s current price.
• Analyst views are broadly positive: 14 rate the stock Buy, one Hold, and one Sell, giving it a Moderate Buy consensus and an average price target of $33.85.
• Immunome reported a quarterly loss of $0.76 per share, missing analysts’ expected loss of $0.61 per share.

Immunome (NASDAQ:IMNM - Get Free Report) had its price objective decreased by research analysts at Stifel Nicolaus from $24.00 to $23.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a "hold" rating on the stock. Stifel Nicolaus's price target points to a potential upside of 23.26% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler reduced their target price on shares of Immunome from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday. William Blair started coverage on shares of Immunome in a research note on Friday, October 16th. They issued an "outperform" rating on the stock. Alliance Global Partners assumed coverage on Immunome in a research note on Monday, September 21st. They set a "buy" rating and a $32.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Immunome in a research note on Thursday, October 15th. Finally, Truist Financial upped their price objective on shares of Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.85.

Immunome Stock Performance

NASDAQ IMNM opened at $18.66 on Tuesday. Immunome has a one year low of $16.11 and a one year high of $30.06. The company has a market cap of $2.12 billion, a P/E ratio of -7.35 and a beta of 2.68. The business has a fifty day moving average price of $21.33 and a 200 day moving average price of $22.37.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its earnings results on Monday, November 9th. The company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.15). As a group, sell-side analysts predict that Immunome will post -2.48 EPS for the current fiscal year.

Insider Buying and Selling at Immunome

In other Immunome news, insider Jack Higgins sold 13,200 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $25.32, for a total value of $334,224.00. Following the sale, the insider directly owned 65,050 shares in the company, valued at approximately $1,647,066. This trade represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of Immunome stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $27.25, for a total transaction of $301,058.00. Following the completion of the transaction, the director directly owned 92,211 shares in the company, valued at approximately $2,512,749.75. The trade was a 10.70% decrease in their position. 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 own 7.21% of the company's stock.

Institutional Trading of Immunome

A number of institutional investors have recently bought and sold shares of IMNM. BlackRock Inc. acquired a new position in Immunome during the second quarter worth about $186,588,000. Primecap Management Co. CA bought a new position in shares of Immunome in the 2nd quarter worth about $97,081,000. Bank of America Corp DE bought a new stake in Immunome in the second quarter worth approximately $13,729,000. Parkman Healthcare Partners LLC bought a new stake in shares of Immunome in the 2nd quarter valued at $12,591,000. Finally, Wellington Management Group LLP raised its holdings in shares of Immunome by 10.1% during the second quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company's stock valued at $110,404,000 after purchasing an additional 478,239 shares during the period. Institutional investors own 44.58% of the company's stock.

About Immunome

Immunome is a biotechnology company focused on discovering and developing therapies for cancer. It uses an antibody-discovery platform to identify targets and develop medicines intended to address areas of significant unmet medical need.

The company's research and development programs include targeted cancer treatments, such as antibody-based therapies and other drug candidates. Its portfolio has included investigational medicines for solid tumors and other cancers; these products are in development and are not necessarily approved for commercial use.

Immunome became a publicly traded company in 2023 following a merger with Morphimmune and a combination with Ayala Pharmaceuticals.

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