Immunome (NASDAQ:IMNM) Shares Down 5.5% - Here's Why

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) were down 5.5% on Tuesday . The stock traded as low as $8.12 and last traded at $8.04. Approximately 104,033 shares changed hands during trading, a decline of 88% from the average daily volume of 898,360 shares. The stock had previously closed at $8.51.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IMNM shares. Stephens restated an "overweight" rating and set a $30.00 target price on shares of Immunome in a report on Thursday, March 20th. Lake Street Capital began coverage on Immunome in a research report on Wednesday, April 2nd. They set a "buy" rating and a $23.00 price target for the company. Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Guggenheim lowered their price target on Immunome from $35.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Wedbush reissued an "outperform" rating and issued a $21.00 target price (down previously from $33.00) on shares of Immunome in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.33.

Immunome Stock Up 1.2%

The stock has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $8.89. The firm has a market capitalization of $920.57 million, a P/E ratio of -3.33 and a beta of 1.92.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.52) EPS for the quarter, beating analysts' consensus estimates of ($0.66) by $0.14. Immunome had a negative return on equity of 71.65% and a negative net margin of 1,875.21%. The business had revenue of $2.93 million for the quarter, compared to analysts' expectations of $0.46 million. Research analysts anticipate that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Immunome news, Director Jean Jacques Bienaime bought 5,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was acquired at an average price of $9.38 per share, for a total transaction of $46,900.00. Following the completion of the transaction, the director directly owned 36,415 shares of the company's stock, valued at approximately $341,572.70. This represents a 15.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company's stock.

Institutional Trading of Immunome

A number of large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in Immunome by 37.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company's stock worth $50,843,000 after buying an additional 2,054,640 shares during the period. Redmile Group LLC lifted its holdings in Immunome by 11.0% during the first quarter. Redmile Group LLC now owns 5,361,187 shares of the company's stock worth $36,081,000 after buying an additional 533,161 shares during the period. Vanguard Group Inc. lifted its holdings in Immunome by 43.4% during the first quarter. Vanguard Group Inc. now owns 4,307,191 shares of the company's stock worth $28,987,000 after buying an additional 1,303,753 shares during the period. EcoR1 Capital LLC lifted its holdings in Immunome by 5.2% during the first quarter. EcoR1 Capital LLC now owns 4,079,415 shares of the company's stock worth $27,454,000 after buying an additional 200,000 shares during the period. Finally, Enavate Sciences GP LLC purchased a new stake in Immunome during the fourth quarter worth $36,939,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

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.