Immunome (NASDAQ:IMNM) Releases Earnings Results, Misses Estimates By $0.15 EPS

Key Points

• Immunome reported a quarterly loss of $0.76 per share, missing analysts’ expected loss of $0.61 per share by $0.15.
• Despite the earnings miss, shares rose 3.5% in Monday midday trading to $19.36.
• Analysts’ consensus rating was Moderate Buy, with a $34.25 average price target; company insiders sold 86,539 shares worth about $2.27 million over the past three months, using pre-arranged trading plans.

Immunome (NASDAQ:IMNM - Get Free Report) released its earnings results on Monday. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.15), FiscalAI reports.

Immunome Stock Up 3.5%

Immunome stock traded up $0.65 during midday trading on Monday, hitting $19.36. 1,376,707 shares of the stock were exchanged, compared to its average volume of 1,380,800. The stock 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 52-week low of $15.46 and a 52-week high of $30.06. The business's 50-day moving average price is $21.49 and its 200-day moving average price is $22.40.

Insider Activity at Immunome

In other news, Director Isaac Barchas sold 62,291 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.23, for a total value of $1,633,892.93. Following the transaction, the director owned 92,211 shares in the company, valued at $2,418,694.53. The trade was a 40.32% decrease in their position. The sale was disclosed in a filing 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, insider Jack Higgins sold 13,200 shares of the company'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 directly owned 65,050 shares of the company's stock, valued at approximately $1,647,066. This represents a 16.87% 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 three months, insiders have sold 86,539 shares of company stock worth $2,269,175. Insiders own 7.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. HC Wainwright reaffirmed a "buy" rating on shares of Immunome in a research note on Tuesday, October 27th. Alliance Global Partners started coverage on shares of Immunome in a research report on Monday, September 21st. They set a "buy" rating and a $32.00 price objective on the stock. Truist Financial raised their target price on Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. William Blair initiated coverage on Immunome in a research report on Friday, October 16th. They issued an "outperform" rating for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunome in a research note on Thursday, October 15th. Thirteen research 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 data from MarketBeat.com, Immunome presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.25.

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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