Immunome (NASDAQ:IMNM) Shares Gap Up Following Earnings Beat

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $7.94, but opened at $8.37. Immunome shares last traded at $8.06, with a volume of 74,171 shares.

The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14. The firm had revenue of $2.93 million for the quarter, compared to analyst estimates of $0.46 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IMNM. Guggenheim dropped their target price on Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Stephens reaffirmed an "overweight" rating and set a $30.00 target price on shares of Immunome in a report on Thursday, March 20th. Wedbush reaffirmed an "outperform" rating and set a $21.00 target price (down from $33.00) on shares of Immunome in a report on Tuesday, May 13th. Lifesci Capital began coverage on Immunome in a report on Tuesday, March 11th. They set an "outperform" rating and a $20.00 target price on the stock. Finally, Lake Street Capital started coverage on Immunome in a report on Wednesday, April 2nd. They set a "buy" rating and a $23.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $23.33.

Insider Buying and Selling at Immunome

In other news, CEO Clay B. Siegall bought 137,100 shares of the firm's stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average price of $7.29 per share, for a total transaction of $999,459.00. Following the completion of the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jean Jacques Bienaime bought 7,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $8.21 per share, for a total transaction of $57,470.00. Following the transaction, the director now owns 23,615 shares of the company's stock, valued at approximately $193,879.15. This represents a 42.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 156,400 shares of company stock valued at $1,160,495. Company insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Immunome

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Immunome by 2,822.9% in the first quarter. GAMMA Investing LLC now owns 6,138 shares of the company's stock valued at $410,000 after acquiring an additional 5,928 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Immunome in the fourth quarter valued at approximately $70,000. KLP Kapitalforvaltning AS purchased a new position in shares of Immunome in the fourth quarter valued at approximately $75,000. AlphaQuest LLC lifted its position in shares of Immunome by 786,700.0% in the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company's stock valued at $84,000 after acquiring an additional 7,867 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Immunome by 482.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock valued at $91,000 after acquiring an additional 7,129 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Immunome Stock Up 0.8%

The stock has a market cap of $701.32 million, a PE ratio of -0.99 and a beta of 2.00. The stock has a 50-day moving average of $7.65 and a 200 day moving average of $9.81.

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.