Immunome's (IMNM) "Outperform" Rating Reiterated at Wedbush

Key Points

• Wedbush reaffirmed its “Outperform” rating on Immunome and maintained a $35 price target, implying approximately 95.6% upside from the stock’s $17.89 opening price.
• Analyst sentiment is broadly positive, with 13 Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $34.25 price target.
• Immunome reported a quarterly loss of $0.65 per share, missing the $0.51 consensus estimate, while insiders have sold 223,368 shares worth about $5.75 million over the past 90 days.

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They presently have a $35.00 price target on the stock. Wedbush's price objective points to a potential upside of 95.64% from the company's current price.

IMNM has been the topic of several other reports. Stifel Nicolaus initiated coverage on shares of Immunome in a research report on Wednesday, September 30th. They issued a "hold" rating and a $24.00 price objective on the stock. Truist Financial boosted their price target on shares of Immunome from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. HC Wainwright reissued a "buy" rating on shares of Immunome in a report on Tuesday. Citigroup restated a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Immunome in a research report on Thursday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Immunome currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.25.

Immunome Stock Down 0.6%

NASDAQ IMNM opened at $17.89 on Tuesday. The company's 50 day moving average is $23.22 and its 200-day moving average is $22.51. Immunome has a 12-month low of $14.64 and a 12-month high of $30.06. The firm has a market cap of $2.03 billion, a P/E ratio of -7.07 and a beta of 2.55.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). Equities analysts expect that Immunome will post -2.48 EPS for the current year.

Insider Activity

In other news, Director Isaac Barchas sold 11,048 shares of the business's stock in a transaction 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 sale, the director 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the completion of the sale, the insider owned 50,366 shares in the company, valued at approximately $1,263,682.94. This trade represents a 64.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 223,368 shares of company stock valued at $5,747,142. Corporate insiders own 7.21% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMNM. Sterling Capital Management LLC boosted its stake in Immunome by 840.0% during the 3rd quarter. Sterling Capital Management LLC now owns 3,478 shares of the company's stock valued at $75,000 after purchasing an additional 3,108 shares during the last quarter. GK Wealth Management LLC purchased a new position in shares of Immunome in the third quarter worth $71,000. Integrated Wealth Concepts LLC bought a new position in shares of Immunome during the second quarter valued at $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Immunome during the second quarter valued at $576,000. Finally, Readystate Asset Management LP lifted its holdings in shares of Immunome by 23.3% during the second 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 in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc NASDAQ: IMNM is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines. Its technology platform analyzes human immune responses to identify antibodies that may be developed into therapies for serious diseases.

The company's research activities have included therapeutic programs in oncology and immunology, with an emphasis on antibodies designed to affect disease-driving biological pathways. Immunome has also conducted antibody discovery work related to infectious diseases, including SARS-CoV-2, as it has expanded its focus toward broader therapeutic applications.

Immunome is headquartered in Exton, Pennsylvania, and serves the global biopharmaceutical market through internal research and development activities and potential collaborations.

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