Immunome (NASDAQ:IMNM) Given New $30.00 Price Target at Piper Sandler

Key Points

• Piper Sandler lowered its Immunome price target from $33 to $30 while maintaining an “overweight” rating; the new target implies about 55% upside from the share price cited in the report.
• Analyst views are mixed, but the consensus remains “Moderate Buy,” with an average price target of $33.92; 14 analysts rate the stock Buy, one Hold, and one Sell.
• 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 target dropped by equities research analysts at Piper Sandler from $33.00 to $30.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price target suggests a potential upside of 54.96% from the company's current price.

A number of other research analysts also recently commented on IMNM. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunome in a research report on Thursday, October 15th. Wall Street Zen downgraded shares of Immunome from a "sell" rating to a "strong sell" rating in a research report on Sunday, October 4th. HC Wainwright reiterated a "buy" rating on shares of Immunome in a research report on Tuesday, October 27th. William Blair initiated coverage on shares of Immunome in a research note on Friday, October 16th. They set an "outperform" rating for the company. Finally, Wedbush reissued an "outperform" rating and set a $35.00 target price on shares of Immunome in a research note on Tuesday, October 27th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.92.

Immunome Price Performance

Shares of IMNM opened at $19.36 on Tuesday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -7.65 and a beta of 2.68. Immunome has a fifty-two week low of $15.46 and a fifty-two week high of $30.06. The business's 50-day moving average is $21.33 and its 200-day moving average is $22.37.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.15). Equities research analysts expect that Immunome will post -2.48 earnings per share for the current fiscal year.

Insider Transactions at Immunome

In other news, insider Jack Higgins sold 13,200 shares of the firm's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the completion of the sale, the insider directly owned 65,050 shares of the company's stock, valued at $1,647,066. This trade represents a 16.87% decrease in their position. The transaction 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, Director Isaac Barchas sold 11,048 shares of Immunome stock in a transaction dated Wednesday, August 12th. The shares were 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 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. 7.21% of the stock is owned by company insiders.

Institutional Trading of Immunome

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Immunome during the 2nd quarter worth $186,588,000. Primecap Management Co. CA bought a new position in shares of Immunome during the 2nd quarter valued at $97,081,000. Bank of America Corp DE acquired a new stake in shares of Immunome in the 2nd quarter valued at $13,729,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Immunome in the 2nd quarter valued at $12,591,000. Finally, Wellington Management Group LLP boosted its holdings in Immunome by 10.1% in the second quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company's stock worth $110,404,000 after purchasing an additional 478,239 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Company Profile

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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