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

Key Points

• Analysts have given Immunome, Inc. a consensus rating of "Buy", with eight firms currently covering the stock and an average 1-year target price of $22.50.
• Immunome's recent quarterly earnings report showed a loss of $0.50 per share, which slightly beat analyst estimates, with reported revenue of $4.02 million compared to expectations of $1.03 million.
• Institutional investors have increased their stakes significantly, with GAMMA Investing LLC growing its position in Immunome by 2,822.9% in the first quarter.

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) have earned an average rating of "Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $22.8889.

Several research analysts recently commented on IMNM shares. JPMorgan Chase & Co. dropped their price target on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Craig Hallum started coverage on Immunome in a research report on Friday. They issued a "buy" rating and a $26.00 price target for the company. Wedbush reiterated an "outperform" rating and issued a $21.00 price target on shares of Immunome in a research report on Thursday, August 7th. Evercore ISI started coverage on Immunome in a research report on Friday, August 22nd. They issued an "outperform" rating and a $18.00 price target for the company. Finally, Guggenheim restated a "buy" rating and issued a $25.00 target price on shares of Immunome in a report on Monday, August 25th.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in Immunome by 81.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock valued at $60,000 after buying an additional 2,909 shares during the period. Tower Research Capital LLC TRC grew its position in Immunome by 121.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company's stock worth $65,000 after purchasing an additional 3,802 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock worth $91,000 after purchasing an additional 7,129 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Immunome in the fourth quarter worth about $95,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Immunome in the first quarter worth about $95,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Stock Performance

Shares of IMNM traded up $0.72 during midday trading on Tuesday, hitting $10.52. 1,358,969 shares of the company traded hands, compared to its average volume of 639,399. The firm has a 50 day moving average of $9.89 and a 200-day moving average of $8.84. Immunome has a 52 week low of $5.15 and a 52 week high of $16.73. The stock has a market cap of $915.66 million, a price-to-earnings ratio of -3.42 and a beta of 1.92.

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

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.