Immunome, Inc. (NASDAQ:IMNM) Given Average Rating of "Buy" by Analysts

Key Points

• Analysts have set a consensus target price of $23.14 for Immunome, Inc. (NASDAQ:IMNM), with seven analysts recommending a "Buy" rating.
• Insider activity includes Director Jean Jacques Bienaime buying 5,000 shares at an average cost of $9.38, increasing their ownership by nearly 16%.
• Immunome reported a quarterly revenue of $4.02 million, surpassing estimates, but continues to show significant negative returns with a net margin of -1,687.08%.

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) has been given a consensus rating of "Buy" by the seven research firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.1429.

Several analysts recently weighed in on the stock. Wedbush reiterated an "outperform" rating and issued a $21.00 price target on shares of Immunome in a report on Thursday. Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price target on Immunome from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday.

Immunome Price Performance

NASDAQ:IMNM traded down $0.02 during trading hours on Friday, hitting $9.68. The company had a trading volume of 60,482 shares, compared to its average volume of 1,019,455. The company has a market capitalization of $842.11 million, a PE ratio of -3.14 and a beta of 1.93. The stock has a 50-day moving average price of $9.55 and a 200 day moving average price of $8.90. Immunome has a 52 week low of $5.15 and a 52 week high of $16.73.

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

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime bought 5,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were acquired at an average cost of $9.38 per share, with a total value of $46,900.00. Following the completion of the acquisition, the director owned 36,415 shares of the company's stock, valued at $341,572.70. The trade was a 15.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.69% of the company's stock.

Institutional Investors Weigh In On Immunome

Several hedge funds have recently added to or reduced their stakes in IMNM. Enavate Sciences GP LLC bought a new stake in Immunome in the fourth quarter worth $36,939,000. Primecap Management Co. CA lifted its holdings in shares of Immunome by 1,115.7% during the first quarter. Primecap Management Co. CA now owns 3,413,700 shares of the company's stock valued at $22,974,000 after purchasing an additional 3,132,900 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Immunome by 37.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company's stock valued at $50,843,000 after purchasing an additional 2,054,640 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Immunome by 43.4% during the first quarter. Vanguard Group Inc. now owns 4,307,191 shares of the company's stock valued at $28,987,000 after purchasing an additional 1,303,753 shares in the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of Immunome by 69.0% during the first quarter. Woodline Partners LP now owns 1,657,729 shares of the company's stock valued at $11,157,000 after purchasing an additional 676,804 shares in the last quarter. 44.58% of the stock is owned by 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.