Immunome (NASDAQ:IMNM) Stock Price Up 9.4% - What's Next?

Key Points

• Shares jumped 9.4% to about $21.11 mid-day from $19.30, but volume was light at ~282,944 shares (an 81% decline vs. the average session volume).
• Analyst sentiment is broadly positive — MarketBeat shows a consensus "Moderate Buy" with 10 Buys and 1 Sell and an average price target of $33.45, with several firms recently raising targets into the mid-$30s and one at $40.
• Fundamentals remain challenged: Immunome missed Q results (EPS -$0.75 vs. -$0.65 expected), reports deeply negative margins and ROE, and a director sold 28,200 shares at about $20.65 (insiders own ~7.7%).

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shot up 9.4% during mid-day trading on Tuesday . The stock traded as high as $21.01 and last traded at $21.11. 282,944 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,521,604 shares. The stock had previously closed at $19.30.

Analyst Upgrades and Downgrades

IMNM has been the subject of several research reports. Craig Hallum raised their price objective on Immunome from $33.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Guggenheim upped their target price on Immunome from $25.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, December 16th. Stephens decreased their price target on Immunome from $33.00 to $30.00 and set an "overweight" rating for the company in a research report on Wednesday, March 4th. Leerink Partners set a $40.00 price objective on Immunome in a report on Monday, December 15th. Finally, Wall Street Zen cut Immunome from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Ten 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.45.

Immunome Trading Up 14.8%

The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -9.13 and a beta of 2.12. The business's 50-day simple moving average is $22.59 and its two-hundred day simple moving average is $19.00.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.10). Immunome had a negative net margin of 1,687.08% and a negative return on equity of 57.61%. On average, analysts forecast that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Philip Wagenheim sold 28,200 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $20.65, for a total value of $582,330.00. Following the transaction, the director owned 341,147 shares in the company, valued at $7,044,685.55. The trade was a 7.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.69% of the company's stock.

Institutional Trading of Immunome

A number of institutional investors have recently modified their holdings of IMNM. Strs Ohio bought a new position in Immunome in the 4th quarter worth about $64,000. Assetmark Inc. bought a new position in shares of Immunome during the 3rd quarter valued at $39,000. Aster Capital Management DIFC Ltd bought a new position in Immunome during the 4th quarter worth approximately $121,000. BIT Capital GmbH purchased a new position in shares of Immunome in the third quarter worth $69,000. Finally, BNP Paribas Financial Markets boosted its position in Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock valued at $60,000 after buying an additional 2,909 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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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