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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Immunome, with 12 buy ratings and one sell rating among 13 firms. The average 12-month price target is $34.64, above the stock’s recent $24.67 price.
• Immunome shares have risen substantially over the past year but recently traded down 1.2%; the company reported a quarterly loss of $0.65 per share, missing analyst expectations by $0.14.
• Insiders have been selling shares, with $15.7 million worth sold over the past quarter, while institutional investors own 44.58% of the company and several major firms increased their positions.

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $34.6364.

IMNM has been the subject of several recent research reports. Wedbush increased their target price on shares of Immunome from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Citigroup reiterated a "buy" rating on shares of Immunome in a report on Thursday, July 9th. Barclays began coverage on Immunome in a report on Thursday, May 28th. They set an "overweight" rating and a $36.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price target on shares of Immunome in a report on Thursday. Finally, Wall Street Zen downgraded Immunome from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th.

Insider Transactions at Immunome

In other news, Director Isaac Barchas sold 11,048 shares of Immunome stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total value of $301,058.00. Following the completion of the sale, the director owned 92,211 shares of the company's stock, valued at $2,512,749.75. The trade was a 10.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $22.62, for a total value of $1,244,100.00. Following the completion of the transaction, the insider owned 15,805 shares of the company's stock, valued at $357,509.10. The trade was a 77.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 682,310 shares of company stock worth $15,675,566 over the last quarter. 7.21% of the stock is currently owned by insiders.

Institutional Trading of Immunome

Large investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its position in shares of Immunome by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company's stock worth $288,305,000 after acquiring an additional 5,003,824 shares during the last quarter. BlackRock Inc. bought a new position in shares of Immunome in the 2nd quarter worth about $186,588,000. Wellington Management Group LLP boosted its stake in Immunome by 10.1% in the second quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company's stock valued at $110,404,000 after acquiring an additional 478,239 shares during the period. Vanguard Group Inc. grew its stake in Immunome by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,893,626 shares of the company's stock worth $57,304,000 after buying an additional 368,674 shares during the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of Immunome by 55.2% during the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company's stock valued at $100,643,000 after acquiring an additional 1,667,432 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Trading Down 1.2%

Shares of IMNM opened at $24.67 on Friday. Immunome has a twelve month low of $8.93 and a twelve month high of $30.06. The firm's fifty day simple moving average is $25.33 and its 200-day simple moving average is $22.71. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -9.75 and a beta of 2.13.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its earnings results 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, analysts predict that Immunome will post -2.38 earnings per share for the current fiscal year.

Immunome Company Profile

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.

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