Immunome (NASDAQ:IMNM) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised Immunome’s price target to $38 from $37 and maintained a “buy” rating, implying 41.47% potential upside from the reported $26.86 share price.
• Analyst sentiment remains broadly positive, with 12 buy ratings and one sell rating; the consensus is “Moderate Buy” with an average target price of $34.64. However, Immunome reported a quarterly loss of $0.65 per share, missing estimates by $0.14.
• Immunome shares have climbed significantly, trading near their one-year high, while insiders sold 598,846 shares worth approximately $13.5 million over the past three months.

Immunome (NASDAQ:IMNM - Get Free Report) had its price target hoisted by equities researchers at Truist Financial from $37.00 to $38.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target suggests a potential upside of 41.47% from the stock's current price.

Several other research analysts also recently weighed in on the company. Wall Street Zen downgraded Immunome from a "hold" rating to a "sell" rating in a research note on Saturday, May 30th. HC Wainwright reiterated a "buy" rating on shares of Immunome in a research note on Thursday, July 9th. Citigroup restated a "buy" rating on shares of Immunome in a research note on Thursday, July 9th. Barclays began coverage on shares of Immunome in a research note on Thursday, May 28th. They issued an "overweight" rating and a $36.00 price objective for the company. Finally, Wedbush raised their price target on Immunome from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Wednesday. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $34.64.

Immunome Price Performance

Shares of IMNM stock traded up $0.61 on Wednesday, reaching $26.86. 748,237 shares of the company were exchanged, compared to its average volume of 1,377,730. The company has a 50-day moving average of $21.73 and a 200-day moving average of $22.18. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -11.29 and a beta of 2.07. Immunome has a one year low of $8.66 and a one year high of $27.75.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). As a group, sell-side analysts predict that Immunome will post -2.06 EPS for the current year.

Insiders Place Their Bets

In related news, insider Kinney Horn sold 90,616 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the completion of the sale, the insider directly owned 50,366 shares in the company, valued at $1,263,682.94. This represents a 64.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total transaction of $1,244,100.00. Following the completion of the transaction, the insider owned 15,805 shares in the company, valued at $357,509.10. This represents a 77.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 598,846 shares of company stock valued at $13,476,656 over the last three months. Insiders own 7.21% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IMNM. Allworth Financial LP purchased a new position in shares of Immunome during the second quarter valued at approximately $25,000. KBC Group NV bought a new stake in Immunome in the first quarter worth $60,000. BNP Paribas Financial Markets grew its stake in shares of Immunome by 81.8% in the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock worth $60,000 after acquiring an additional 2,909 shares during the last quarter. Strs Ohio bought a new position in shares of Immunome during the fourth quarter valued at $64,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Immunome by 121.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company's stock worth $65,000 after purchasing an additional 3,802 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

About Immunome

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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