JPMorgan Chase & Co. Lowers Immunome (NASDAQ:IMNM) Price Target to $22.00

Key Points

• JPMorgan Chase & Co. has reduced the target price for Immunome (NASDAQ:IMNM) from $23.00 to $22.00, maintaining an "overweight" rating, which suggests a potential upside of 122.90% from the current stock price.
• Immunome's stock is currently trading at $9.87, reflecting a 5.6% decline, with a market capitalization of $858.81 million.
• Institutional investors own 44.58% of Immunome's stock, with several hedge funds, including BNP Paribas Financial Markets and Tower Research Capital, acquiring new stakes in the company.

Immunome (NASDAQ:IMNM - Get Free Report) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $23.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 127.04% from the company's current price.

IMNM has been the topic of several other reports. Wedbush reaffirmed an "outperform" rating and set a $21.00 price target on shares of Immunome in a report on Thursday. Wall Street Zen raised shares of Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.14.

Immunome Stock Down 1.8%

Shares of NASDAQ:IMNM traded down $0.18 during midday trading on Thursday, hitting $9.69. The stock had a trading volume of 579,893 shares, compared to its average volume of 823,784. The company's 50-day moving average price is $9.55 and its 200-day moving average price is $8.92. The company has a market capitalization of $843.42 million, a P/E ratio of -3.15 and a beta of 1.93. Immunome has a fifty-two week low of $5.15 and a fifty-two week high of $16.73.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.02. The company had revenue of $4.02 million during 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 78.93%. Research analysts expect that Immunome will post -2.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Immunome news, Director Jean Jacques Bienaime bought 5,000 shares of Immunome stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average cost of $9.38 per share, with a total value of $46,900.00. Following the acquisition, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Immunome

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Immunome by 24.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,544 shares of the company's stock valued at $347,000 after purchasing an additional 10,039 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Immunome in the 4th quarter valued at $1,640,000. ProShare Advisors LLC bought a new stake in shares of Immunome in the 4th quarter valued at $154,000. JPMorgan Chase & Co. boosted its stake in shares of Immunome by 2,540.4% in the 4th quarter. JPMorgan Chase & Co. now owns 648,610 shares of the company's stock valued at $6,888,000 after purchasing an additional 624,045 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Immunome by 17.7% in the 4th quarter. MetLife Investment Management LLC now owns 35,619 shares of the company's stock valued at $378,000 after purchasing an additional 5,354 shares during 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.