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

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Guggenheim decreased their price objective on shares of Immunome from $35.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Stephens reissued an "overweight" rating and issued a $30.00 price objective on shares of Immunome in a research report on Thursday, March 20th. Lake Street Capital assumed coverage on Immunome in a research report on Wednesday, April 2nd. They set a "buy" rating and a $23.00 target price for the company. Wall Street Zen upgraded shares of Immunome from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $21.00 price objective (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 issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.33.

Immunome Trading Down 2.7%

The business's fifty day moving average price is $8.55 and its 200-day moving average price is $9.23. The company has a market capitalization of $754.81 million, a P/E ratio of -2.73 and a beta of 1.94.

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

Insiders Place Their Bets

In other Immunome news, Director Jean Jacques Bienaime bought 5,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average price of $9.38 per share, for a total transaction of $46,900.00. Following the acquisition, the director now owns 36,415 shares in the company, valued at approximately $341,572.70. This represents a 15.92% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Immunome

A number of institutional investors and hedge funds have recently made changes to their positions in IMNM. Invesco Ltd. lifted its stake in shares of Immunome by 6.4% in the 1st quarter. Invesco Ltd. now owns 28,379 shares of the company's stock worth $191,000 after purchasing an additional 1,718 shares during the period. Sequoia Financial Advisors LLC lifted its position in Immunome by 11.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 19,065 shares of the company's stock valued at $202,000 after purchasing an additional 2,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Immunome by 5.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,505 shares of the company's stock valued at $441,000 after purchasing an additional 2,005 shares during the period. Voya Investment Management LLC raised its stake in shares of Immunome by 21.2% in the first quarter. Voya Investment Management LLC now owns 18,905 shares of the company's stock worth $127,000 after buying an additional 3,305 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of Immunome by 26.5% during the 4th quarter. Intech Investment Management LLC now owns 18,961 shares of the company's stock valued at $201,000 after buying an additional 3,974 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.