Immunome (NASDAQ:IMNM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Immunome from “strong sell” to “sell,” while broader analyst sentiment remains “Moderate Buy,” with 12 Buy ratings, one Sell rating, and an average price target of $35.18.
• Immunome shares opened at $21.41 after falling 4.2%; the company reported quarterly EPS of negative $0.65, missing the consensus estimate of negative $0.51.
• Insiders sold approximately $13.8 million of stock over the past 90 days, while institutional investors own 44.58% of the company.

Immunome (NASDAQ:IMNM - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Several other research analysts have also issued reports on IMNM. HC Wainwright restated a "buy" rating and issued a $40.00 price target on shares of Immunome in a research report on Thursday, September 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunome in a research report on Friday, July 17th. Citigroup reissued a "buy" rating on shares of Immunome in a research note on Thursday, July 9th. Truist Financial lifted their target price on Immunome from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Finally, Alliance Global Partners initiated coverage on Immunome in a research report on Monday, September 21st. They set a "buy" rating and a $32.00 target price on the stock. Twelve investment 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.com, Immunome has an average rating of "Moderate Buy" and an average price target of $35.18.

Immunome Trading Down 4.2%

NASDAQ:IMNM opened at $21.41 on Friday. Immunome has a twelve month low of $10.06 and a twelve month high of $30.06. The company has a 50-day moving average of $25.45 and a 200-day moving average of $22.85. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -8.46 and a beta of 2.13.

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, research analysts forecast that Immunome will post -2.38 earnings per share for the current year.

Insider Activity

In related news, insider Jack Higgins sold 13,200 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider owned 65,050 shares of the company's stock, valued at approximately $1,647,066. This trade represents a 16.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of Immunome stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total transaction of $1,244,100.00. Following the transaction, the insider owned 15,805 shares in the company, valued at approximately $357,509.10. The trade was a 77.68% 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. In the last ninety days, insiders sold 580,510 shares of company stock valued at $13,824,240. 7.21% of the stock is currently owned by insiders.

Institutional Trading of Immunome

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

About Immunome

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.