Immunome (NASDAQ:IMNM) Shares Down 5.5% - Time to Sell?

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

Wall Street Analyst Weigh In

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

Immunome Trading Down 1.3%

The stock has a fifty day moving average of $8.67 and a two-hundred day moving average of $8.88. The stock has a market capitalization of $730.88 million, a price-to-earnings ratio of -2.64 and a beta of 1.92.

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

Insider Activity at Immunome

In related news, Director Jean Jacques Bienaime purchased 5,000 shares of Immunome stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average cost of $9.38 per share, for a total transaction of $46,900.00. Following the transaction, the director directly owned 36,415 shares of the company's stock, valued at approximately $341,572.70. This trade represents a 15.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IMNM. Charles Schwab Investment Management Inc. boosted its position in shares of Immunome by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,252 shares of the company's stock worth $4,856,000 after purchasing an additional 14,775 shares during the last quarter. Raymond James Financial Inc. bought a new position in Immunome during the fourth quarter worth about $274,000. AlphaQuest LLC lifted its holdings in Immunome by 786,700.0% during the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company's stock worth $84,000 after acquiring an additional 7,867 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Immunome by 11.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 19,065 shares of the company's stock worth $202,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in Immunome during the fourth quarter worth about $202,000. 44.58% of the stock is currently owned by institutional investors.

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.