Immunome, Inc. (NASDAQ:IMNM) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts are broadly bullish on Immunome: Twelve of 13 covering brokerages rate the stock a buy, versus one sell rating, producing an average “Moderate Buy” recommendation and a $34.64 12-month price target.
• Immunome shares opened at $27.40, near their 12-month high of $28.62, but the company reported a quarterly loss of $0.65 per share, missing the consensus estimate of a $0.51 loss.
• Insiders sold heavily: Company insiders sold 682,310 shares worth approximately $15.7 million over the past three months, while institutional investors own 44.58% of the stock.

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $34.6364.

Several equities research analysts recently commented on IMNM shares. Truist Financial boosted their price target on shares of Immunome from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Wall Street Zen cut shares of Immunome from a "sell" rating to a "strong sell" rating in a research note on Saturday. HC Wainwright reaffirmed a "buy" rating on shares of Immunome in a research note on Thursday, July 9th. Citigroup reiterated a "buy" rating on shares of Immunome in a research note on Thursday, July 9th. Finally, Wedbush increased their target price on Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th.

Immunome Trading Up 0.7%

Shares of IMNM stock opened at $27.40 on Tuesday. Immunome has a 12-month low of $8.66 and a 12-month high of $28.62. The business's 50 day moving average is $22.37 and its two-hundred day moving average is $22.23. The company has a market capitalization of $3.11 billion, a P/E ratio of -10.83 and a beta of 2.07.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). On average, research analysts predict that Immunome will post -2.3 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robert Lechleider sold 55,000 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $22.62, for a total value of $1,244,100.00. Following the transaction, the insider directly owned 15,805 shares of the company's stock, valued at approximately $357,509.10. This trade represents a 77.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the completion of the sale, the insider owned 50,366 shares of the company's stock, valued at approximately $1,263,682.94. The trade was a 64.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 682,310 shares of company stock worth $15,675,566 over the last three months. Insiders own 7.21% of the company's stock.

Hedge Funds Weigh In On Immunome

A number of institutional investors have recently bought and sold shares of IMNM. Creative Planning lifted its holdings in Immunome by 4.0% in the third quarter. Creative Planning now owns 18,664 shares of the company's stock valued at $219,000 after acquiring an additional 710 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Immunome by 14.4% in the 4th quarter. Russell Investments Group Ltd. now owns 7,417 shares of the company's stock valued at $159,000 after acquiring an additional 935 shares during the period. Allworth Financial LP purchased a new stake in shares of Immunome in the 2nd quarter valued at $25,000. California State Teachers Retirement System lifted its position in shares of Immunome by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 67,012 shares of the company's stock worth $1,439,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Immunome by 46.6% in the first quarter. Assetmark Inc. now owns 4,535 shares of the company's stock worth $99,000 after acquiring an additional 1,442 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome's approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company's lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.

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