Immunome (NASDAQ:IMNM) Posts Earnings Results, Beats Expectations By $0.14 EPS

Immunome (NASDAQ:IMNM - Get Free Report) issued its earnings results on Monday. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14, Zacks reports. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. The company had revenue of $2.93 million during the quarter, compared to the consensus estimate of $0.46 million.

Immunome Stock Up 0.8%

Shares of NASDAQ:IMNM traded up $0.06 during trading on Friday, reaching $8.06. 1,128,233 shares of the company traded hands, compared to its average volume of 921,008. The company's 50 day moving average is $7.65 and its two-hundred day moving average is $9.81. The firm has a market capitalization of $701.32 million, a PE ratio of -0.99 and a beta of 2.00. Immunome has a 52 week low of $5.15 and a 52 week high of $16.81.

Insider Activity

In related news, CEO Clay B. Siegall bought 137,100 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average cost of $7.29 per share, for a total transaction of $999,459.00. Following the transaction, the chief executive officer now owns 806,736 shares in the company, valued at $5,881,105.44. The trade was a 20.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Philip Tsai bought 12,300 shares of the business's stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $8.42 per share, with a total value of $103,566.00. Following the completion of the transaction, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. This trade represents a 58.57% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 156,400 shares of company stock worth $1,160,495. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immunome

A hedge fund recently raised its stake in Immunome stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 44.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,821 shares of the company's stock after buying an additional 14,398 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.05% of Immunome worth $316,000 as of its most recent filing with the SEC. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IMNM. Stephens restated an "overweight" rating and issued a $30.00 price target on shares of Immunome in a research note on Thursday, March 20th. Lifesci Capital began coverage on Immunome in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price target for the company. Wedbush restated an "outperform" rating and issued a $21.00 price target (down from $33.00) on shares of Immunome in a research note on Tuesday. Lake Street Capital began coverage on Immunome in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $23.00 price target for the company. Finally, Guggenheim reduced their price target on Immunome from $35.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $23.33.

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.