Immunome, Inc. (NASDAQ:IMNM) Receives $22.50 Average PT from 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 recommendation of "Buy" from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $22.50.

Several equities research analysts have recently weighed in on IMNM shares. Guggenheim reissued a "buy" rating and set a $25.00 price objective on shares of Immunome in a research note on Monday, August 25th. JPMorgan Chase & Co. reduced their price objective on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Wedbush reissued an "outperform" rating and set a $21.00 price objective on shares of Immunome in a research note on Thursday, August 7th. Evercore ISI began coverage on Immunome in a report on Friday, August 22nd. They issued an "outperform" rating and a $18.00 target price for the company. Finally, Wall Street Zen upgraded Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Institutional Trading of Immunome

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its holdings 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 acquiring an additional 1,188 shares in the last quarter. Main Management ETF Advisors LLC raised its holdings in Immunome by 1.6% during the second quarter. Main Management ETF Advisors LLC now owns 76,944 shares of the company's stock valued at $716,000 after buying an additional 1,248 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Immunome by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,187 shares of the company's stock valued at $470,000 after buying an additional 1,643 shares in the last quarter. Invesco Ltd. raised its holdings in Immunome by 6.4% during the first quarter. Invesco Ltd. now owns 28,379 shares of the company's stock valued at $191,000 after buying an additional 1,718 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Immunome by 81.8% during the second 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 in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Immunome Price Performance

IMNM stock traded up $0.97 on Tuesday, reaching $10.25. The company's stock had a trading volume of 1,061,336 shares, compared to its average volume of 627,134. The firm has a fifty day moving average of $9.83 and a two-hundred day moving average of $8.85. The company has a market capitalization of $892.16 million, a P/E ratio of -3.33 and a beta of 1.92. Immunome has a 52 week low of $5.15 and a 52 week high of $16.73.

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

About Immunome

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.