Immunome (NASDAQ:IMNM) Releases Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Key Points

• Immunome reported a quarterly loss of $0.65 per share, missing analysts’ consensus estimate of a $0.51 loss by $0.14.
• Shares rose $0.56 to $26.25 during Tuesday trading, while analysts maintained a generally positive outlook: 12 rate the stock Buy and one rates it Sell, with a consensus “Moderate Buy” rating and a $34.18 price target.
• Insiders sold 598,846 shares worth approximately $13.5 million over the last quarter, while institutional investors own 44.58% of the company.

Immunome (NASDAQ:IMNM - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14), FiscalAI reports.

Immunome Stock Performance

Shares of IMNM traded up $0.56 during trading hours on Tuesday, hitting $26.25. 872,357 shares of the stock were exchanged, compared to its average volume of 1,380,494. The stock's 50-day moving average price is $21.59 and its two-hundred day moving average price is $22.17. Immunome has a 12-month low of $8.66 and a 12-month high of $27.65. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -11.03 and a beta of 2.07.

Analyst Ratings Changes

Several analysts have commented on IMNM shares. Citigroup reissued a "buy" rating on shares of Immunome in a report on Thursday, July 9th. HC Wainwright reiterated a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Truist Financial lifted 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Immunome in a report on Friday, July 17th. Finally, Leerink Partners decreased their price objective on shares of Immunome from $37.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Immunome presently has a consensus rating of "Moderate Buy" and an average price target of $34.18.

Insider Transactions at Immunome

In other Immunome news, insider Robert Lechleider sold 55,000 shares of Immunome stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $19.85, for a total transaction of $1,091,750.00. Following the sale, the insider owned 15,805 shares of the company's stock, valued at $313,729.25. The trade was a 77.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Max Rosett sold 60,000 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $18.23, for a total transaction of $1,093,800.00. Following the sale, the chief financial officer directly owned 54,037 shares of the company's stock, valued at $985,094.51. The trade was 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. Over the last quarter, insiders have sold 598,846 shares of company stock worth $13,476,656. Company insiders own 7.21% of the company's stock.

Institutional Trading of Immunome

A number of hedge funds have recently bought and sold shares of IMNM. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Immunome by 59.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company's stock worth $288,305,000 after purchasing an additional 5,003,824 shares during the last quarter. Invesco Ltd. lifted its position in Immunome by 382.1% during the fourth quarter. Invesco Ltd. now owns 270,065 shares of the company's stock worth $5,801,000 after buying an additional 214,049 shares in the last quarter. Virtus Investment Advisers LLC lifted its position in Immunome by 16.9% during the fourth quarter. Virtus Investment Advisers LLC now owns 13,593 shares of the company's stock worth $292,000 after buying an additional 1,970 shares in the last quarter. Wellington Management Group LLP boosted its stake in Immunome by 267.8% during the fourth quarter. Wellington Management Group LLP now owns 934,463 shares of the company's stock worth $20,072,000 after buying an additional 680,395 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new position in Immunome during the fourth quarter worth $2,741,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Immunome Company Profile

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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