Immunome, Inc. (NASDAQ:IMNM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Fourteen firms cover Immunome, with 12 buy ratings, one hold, and one sell. The average 12-month price target is $34.25.
• Shares opened at $19.31, below their 50-day average of $25.24, while the stock has traded between $13.41 and $30.06 over the past year. Immunome also reported a quarterly loss of $0.65 per share, missing the $0.51 consensus estimate.
• Insiders have been net sellers: Executives sold 223,368 shares worth approximately $5.75 million over the past 90 days, while institutional investors own 44.58% of the company.

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $34.25.

A number of research firms have weighed in on IMNM. Alliance Global Partners started coverage on Immunome in a research report on Monday, September 21st. They set a "buy" rating and a $32.00 price target on the stock. Stifel Nicolaus began coverage on Immunome in a research report on Wednesday, September 30th. They set a "hold" rating and a $24.00 price objective on the stock. Citigroup restated a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 target price on shares of Immunome in a research note on Thursday, September 10th. Finally, Wedbush increased their price target on shares of Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th.

Immunome Price Performance

IMNM stock opened at $19.31 on Wednesday. The firm has a 50 day simple moving average of $25.24 and a two-hundred day simple moving average of $22.87. The stock has a market cap of $2.19 billion, a PE ratio of -7.63 and a beta of 2.55. Immunome has a one year low of $13.41 and a one year high of $30.06.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). On average, research analysts expect that Immunome will post -2.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jack Higgins sold 13,200 shares of Immunome 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 transaction, the insider owned 65,050 shares in the company, valued at $1,647,066. This trade represents a 16.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the sale, the insider owned 50,366 shares of the company's stock, valued at approximately $1,263,682.94. The trade was a 64.27% 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 a total of 223,368 shares of company stock worth $5,747,142 in the last 90 days. 7.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunome

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of Immunome during the first quarter valued at approximately $1,507,000. California State Teachers Retirement System increased its stake in shares of Immunome by 66.3% in the first quarter. California State Teachers Retirement System now owns 111,444 shares of the company's stock worth $2,437,000 after buying an additional 44,432 shares during the period. Readystate Asset Management LP increased its stake in shares of Immunome by 23.3% in the second quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company's stock worth $34,027,000 after buying an additional 303,958 shares during the period. Legal & General Group Plc bought a new stake in Immunome during the 2nd quarter valued at $1,899,000. Finally, Bank of America Corp DE raised its holdings in Immunome by 285.6% during the 1st quarter. Bank of America Corp DE now owns 781,607 shares of the company's stock valued at $17,094,000 after buying an additional 578,890 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome's research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.

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