Immunome (NASDAQ:IMNM) Shares Down 4% - Should You Sell?

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) fell 4% during mid-day trading on Wednesday . The company traded as low as $8.68 and last traded at $8.56. 30,042 shares were traded during trading, a decline of 97% from the average session volume of 899,324 shares. The stock had previously closed at $8.92.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IMNM shares. Stephens restated an "overweight" rating and issued a $30.00 price target on shares of Immunome in a report on Thursday, March 20th. Lifesci Capital began coverage on Immunome in a research report on Tuesday, March 11th. They set an "outperform" rating and a $20.00 target price on the stock. Lake Street Capital began coverage on Immunome in a research report on Wednesday, April 2nd. They set a "buy" rating and a $23.00 target price on the stock. Wall Street Zen upgraded Immunome from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Guggenheim decreased their target price on Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a research 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. According to MarketBeat.com, Immunome has a consensus rating of "Moderate Buy" and an average price target of $23.33.

Immunome Stock Down 0.2%

The company has a market capitalization of $763.08 million, a price-to-earnings ratio of -2.76 and a beta of 1.94. The stock has a fifty day moving average price of $8.61 and a two-hundred day moving average price of $9.15.

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. Immunome had a negative return on equity of 71.65% and a negative net margin of 1,875.21%. The firm had revenue of $2.93 million during the quarter, compared to analyst estimates of $0.46 million. As a group, research analysts forecast that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunome

In other news, Director Jean Jacques Bienaime acquired 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, with a total value of $46,900.00. Following the purchase, the director now directly owns 36,415 shares of the company's stock, valued at approximately $341,572.70. This trade represents a 15.92% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in Immunome by 2,822.9% during the first quarter. GAMMA Investing LLC now owns 6,138 shares of the company's stock valued at $410,000 after buying an additional 5,928 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Immunome during the fourth quarter valued at approximately $70,000. KLP Kapitalforvaltning AS acquired a new position in Immunome during the fourth quarter valued at approximately $75,000. AlphaQuest LLC boosted 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 worth $84,000 after buying an additional 7,867 shares during the period. Finally, Tower Research Capital LLC TRC boosted 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 worth $91,000 after buying an additional 7,129 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

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.