Immunome (NASDAQ:IMNM) Given Outperform Rating at Wedbush

Key Points

• Wedbush reiterated an outperform rating on Immunome and kept a $31 price target, implying about 39.9% upside from the current share price.
• Analyst sentiment remains broadly positive overall, with 13 Buy ratings and just one Sell; the consensus rating is Moderate Buy with an average target of $33.17.
• Immunome reported a narrower-than-expected quarterly loss of ($0.48) per share versus the ($0.60) estimate, while shares recently traded around $22.16 and the company’s lead program IMM-BCP-01 remains in early-stage trials.

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $31.00 target price on the stock. Wedbush's price objective would indicate a potential upside of 39.92% from the company's current price.

Other analysts also recently issued reports about the company. Barclays began coverage on Immunome in a research note on Thursday, May 28th. They issued an "overweight" rating and a $36.00 price objective for the company. Leerink Partners dropped their target price on shares of Immunome from $37.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, May 15th. Wall Street Zen downgraded Immunome from a "hold" rating to a "sell" rating in a research note on Saturday, May 30th. Citigroup reissued a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Finally, Truist Financial upped their price target on shares of Immunome from $36.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Immunome has a consensus rating of "Moderate Buy" and an average price target of $33.17.

Immunome Stock Down 0.0%

IMNM traded down $0.01 during trading on Tuesday, hitting $22.16. 43,385 shares of the company's stock were exchanged, compared to its average volume of 1,419,761. Immunome has a fifty-two week low of $8.66 and a fifty-two week high of $27.65. The stock has a market cap of $2.51 billion, a P/E ratio of -9.29 and a beta of 2.07. The business's 50 day moving average is $20.98 and its two-hundred day moving average is $21.91.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.12. On average, sell-side analysts forecast that Immunome will post -2.06 earnings per share for the current year.

Insider Transactions at Immunome

In other news, insider Kinney Horn sold 1,092 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $25.00, for a total value of $27,300.00. Following the completion of the transaction, the insider directly owned 1,092 shares in the company, valued at approximately $27,300. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Max Rosett sold 60,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $18.23, for a total value of $1,093,800.00. Following the completion of the sale, the chief financial officer owned 54,037 shares in the company, valued at $985,094.51. This trade represents a 52.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 472,142 shares of company stock valued at $10,262,648. Company insiders own 7.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IMNM. Bank of America Corp DE lifted its position in Immunome by 285.6% during the first quarter. Bank of America Corp DE now owns 781,607 shares of the company's stock valued at $17,094,000 after purchasing an additional 578,890 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Immunome during the 1st quarter valued at $1,310,000. California State Teachers Retirement System lifted its holdings in shares of Immunome by 66.3% during the 1st quarter. California State Teachers Retirement System now owns 111,444 shares of the company's stock worth $2,437,000 after acquiring an additional 44,432 shares during the last quarter. Quantinno Capital Management LP purchased a new position in Immunome in the first quarter worth $222,000. Finally, Aristotle Atlantic Partners LLC bought a new position in Immunome in the first quarter valued at $2,734,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

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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