Immunome (NASDAQ:IMNM) Stock Price Down 6.7% - Should You Sell?

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares traded down 6.7% during trading on Friday . The company traded as low as $9.23 and last traded at $9.14. 657,998 shares changed hands during trading, a decline of 37% from the average session volume of 1,041,214 shares. The stock had previously closed at $9.79.

Wall Street Analysts Forecast Growth

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

Immunome Trading Up 3.7%

The company has a market capitalization of $830.09 million, a P/E ratio of -1.18 and a beta of 1.94. The business's fifty day moving average price is $8.29 and its 200-day moving average price is $9.39.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.66) by $0.14. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The company had revenue of $2.93 million during the quarter, compared to the consensus estimate 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, CTO Philip Tsai purchased 12,300 shares of the stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $8.42 per share, with a total value of $103,566.00. Following the completion of the purchase, the chief technology officer now directly owns 33,300 shares of the company's stock, valued at approximately $280,386. This trade represents a 58.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall purchased 137,100 shares of the stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost of $7.29 per share, with a total value of $999,459.00. Following the completion of the purchase, the chief executive officer now directly owns 806,736 shares of the company's stock, valued at $5,881,105.44. The trade was a 20.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 161,400 shares of company stock valued at $1,207,395 over the last three months. Insiders own 8.60% of the company's stock.

Institutional Trading of Immunome

Hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its stake in shares of Immunome by 37.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company's stock valued at $50,843,000 after acquiring an additional 2,054,640 shares during the last quarter. Redmile Group LLC raised its stake in shares of Immunome by 11.0% during the first quarter. Redmile Group LLC now owns 5,361,187 shares of the company's stock valued at $36,081,000 after acquiring an additional 533,161 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Immunome by 43.4% during the first quarter. Vanguard Group Inc. now owns 4,307,191 shares of the company's stock valued at $28,987,000 after acquiring an additional 1,303,753 shares during the last quarter. EcoR1 Capital LLC raised its stake in shares of Immunome by 5.2% during the first quarter. EcoR1 Capital LLC now owns 4,079,415 shares of the company's stock valued at $27,454,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Enavate Sciences GP LLC bought a new position in shares of Immunome during the fourth quarter valued at about $36,939,000. 44.58% of the stock is owned by institutional investors.

About Immunome

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.