Immunome (NASDAQ:IMNM) Given New $22.00 Price Target at JPMorgan Chase & Co.

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 target price decreased by research analysts at JPMorgan Chase & Co. from $23.00 to $22.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 126.99% from the company's previous close.

Several other research analysts have also issued reports on the stock. Wall Street Zen raised shares of Immunome from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Wedbush restated an "outperform" rating and issued a $21.00 price target on shares of Immunome in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Immunome presently has an average rating of "Moderate Buy" and a consensus target price of $23.14.

Immunome Price Performance

Shares of IMNM stock traded up $0.00 during trading on Thursday, hitting $9.69. 39,655 shares of the stock traded hands, compared to its average volume of 1,019,303. The firm's fifty day moving average price is $9.55 and its 200-day moving average price is $8.90. The firm has a market capitalization of $843.59 million, a P/E ratio of -3.15 and a beta of 1.93. Immunome has a 52-week low of $5.15 and a 52-week high of $16.73.

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

Insider Buying and Selling at Immunome

In related news, Director Jean Jacques Bienaime acquired 5,000 shares of Immunome stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average cost of $9.38 per share, with a total value of $46,900.00. Following the purchase, the director directly owned 36,415 shares in the company, valued at approximately $341,572.70. The trade was a 15.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.69% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IMNM. Teacher Retirement System of Texas boosted its position in Immunome by 6.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 18,548 shares of the company's stock valued at $172,000 after purchasing an additional 1,188 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Immunome by 3.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 53,187 shares of the company's stock worth $470,000 after purchasing an additional 1,643 shares during the last quarter. Invesco Ltd. raised its stake in shares of Immunome by 6.4% in the 1st quarter. Invesco Ltd. now owns 28,379 shares of the company's stock valued at $191,000 after purchasing an additional 1,718 shares during the period. Voya Investment Management LLC boosted its stake in shares of Immunome by 21.2% during the 1st quarter. Voya Investment Management LLC now owns 18,905 shares of the company's stock worth $127,000 after buying an additional 3,305 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Immunome by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 145,564 shares of the company's stock valued at $1,546,000 after purchasing an additional 4,874 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

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.