Guggenheim Reaffirms Buy Rating for Immunome (NASDAQ:IMNM)

Key Points

• Guggenheim has reaffirmed a buy rating for Immunome, setting a price target of $25.00, indicating a potential upside of 138.48% from its current stock price.
• Immunome's recent earnings report showed a loss of ($0.50) per share, slightly beating analysts' estimates, with actual revenue of $4.02 million, surpassing expectations significantly.
• Insider buying was noted with Director Jean Jacques Bienaime purchasing 5,000 shares, which represents a 15.92% increase in ownership, highlighting confidence in the company's future performance.

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Guggenheim in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $25.00 price objective on the stock. Guggenheim's price objective suggests a potential upside of 138.48% from the company's current price.

Other research analysts have also recently issued reports about the company. Wedbush reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Immunome in a research report on Thursday, August 7th. Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price target on shares of Immunome from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Evercore ISI initiated coverage on shares of Immunome in a research report on Friday. They set an "outperform" rating and a $18.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $22.50.

Immunome Stock Up 1.8%

NASDAQ IMNM traded up $0.1830 on Monday, hitting $10.4830. 100,745 shares of the stock were exchanged, compared to its average volume of 995,154. Immunome has a fifty-two week low of $5.15 and a fifty-two week high of $16.73. The company has a 50-day moving average price of $9.69 and a 200-day moving average price of $8.87. The company has a market cap of $912.44 million, a PE ratio of -3.40 and a beta of 1.93.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.02. The business had revenue of $4.02 million for the quarter, compared to analyst estimates of $1.03 million. Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.10%. As a group, equities research analysts predict that Immunome will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Immunome news, Director Jean Jacques Bienaime purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average price of $9.38 per share, for a total transaction of $46,900.00. Following the purchase, the director directly owned 36,415 shares in the company, valued at approximately $341,572.70. This trade represents a 15.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunome

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas boosted its stake in shares of Immunome by 6.8% during the second quarter. Teacher Retirement System of Texas now owns 18,548 shares of the company's stock worth $172,000 after buying an additional 1,188 shares during the period. Main Management ETF Advisors LLC raised its stake in Immunome by 1.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 76,944 shares of the company's stock valued at $716,000 after acquiring an additional 1,248 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Immunome by 3.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 53,187 shares of the company's stock worth $470,000 after acquiring an additional 1,643 shares during the period. Invesco Ltd. grew its stake in shares of Immunome by 6.4% in the 1st quarter. Invesco Ltd. now owns 28,379 shares of the company's stock valued at $191,000 after purchasing an additional 1,718 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Immunome by 81.8% during the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock worth $60,000 after purchasing an additional 2,909 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Company Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.

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