Immunome (NASDAQ:IMNM) Reaches New 52-Week High - Time to Buy?

Key Points

• Immunome, Inc. shares reached a new 52-week high of $15.19, closing at $14.96, with significant trading volume of 570,828 shares.
• A consensus of analysts provided a Moderate Buy rating with a target price of $23.20, while Guggenheim set a more optimistic price target of $25.00.
• The company reported a revenue of $4.02 million for the last quarter, exceeding the analysts’ expectations of $1.03 million.

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $15.19 and last traded at $14.96, with a volume of 570828 shares changing hands. The stock had previously closed at $14.10.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IMNM. Evercore ISI began coverage on shares of Immunome in a report on Friday, August 22nd. They issued an "outperform" rating and a $18.00 price objective on the stock. Guggenheim reiterated a "buy" rating and issued a $25.00 price objective on shares of Immunome in a report on Monday, August 25th. JPMorgan Chase & Co. lowered their price objective on shares of Immunome from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunome in a report on Wednesday, October 8th. Finally, Craig Hallum began coverage on shares of Immunome in a report on Friday, September 5th. They issued a "buy" rating and a $26.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Immunome has an average rating of "Moderate Buy" and a consensus target price of $23.20.

Immunome Stock Up 11.6%

The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -5.10 and a beta of 1.94. The stock's fifty day moving average is $10.65 and its two-hundred day moving average is $9.31.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share for the quarter, topping analysts' consensus estimates 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, analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IMNM. Tower Research Capital LLC TRC raised its holdings in Immunome by 121.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company's stock valued at $65,000 after buying an additional 3,802 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Immunome by 81.8% in the 2nd 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 during the last quarter. Birchview Capital LP bought a new position in Immunome in the 2nd quarter valued at approximately $558,000. Balyasny Asset Management L.P. bought a new position in Immunome in the 2nd quarter valued at approximately $1,021,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Immunome by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 280,816 shares of the company's stock valued at $2,612,000 after buying an additional 9,686 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

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.

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