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

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

Analyst Ratings Changes

A number of equities research analysts have commented on IMNM shares. Lake Street Capital started coverage on shares of Immunome in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $23.00 target price for the company. Lifesci Capital started coverage on Immunome in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price objective for the company. Wedbush reiterated an "outperform" rating and issued a $21.00 price target (down from $33.00) on shares of Immunome in a report on Tuesday, May 13th. Stephens reissued an "overweight" rating and issued a $30.00 price objective on shares of Immunome in a research note on Thursday, March 20th. Finally, Guggenheim cut their price objective on shares of Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.33.

Immunome Price Performance

The stock has a fifty day simple moving average of $8.14 and a 200-day simple moving average of $9.49. The company has a market capitalization of $797.99 million, a price-to-earnings ratio of -1.13 and a beta of 1.94.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($0.66) by $0.14. The company had revenue of $2.93 million for the quarter, compared to analyst estimates of $0.46 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. As a group, equities analysts expect that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling at Immunome

In other news, CTO Philip Tsai purchased 12,300 shares of the stock in a transaction on Monday, March 24th. The stock was bought at an average price of $8.42 per share, for a total transaction of $103,566.00. Following the acquisition, the chief technology officer now directly owns 33,300 shares of the company's stock, valued at approximately $280,386. The trade was a 58.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jean Jacques Bienaime acquired 5,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average cost of $9.38 per share, for a total transaction of $46,900.00. Following the completion of the transaction, the director now owns 36,415 shares in the company, valued at approximately $341,572.70. The trade was a 15.92% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 161,400 shares of company stock worth $1,207,395 over the last quarter. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in shares of Immunome in the 4th quarter valued at about $70,000. KLP Kapitalforvaltning AS purchased a new stake in Immunome during the fourth quarter worth approximately $75,000. AlphaQuest LLC boosted its holdings in Immunome by 786,700.0% in the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company's stock valued at $84,000 after purchasing an additional 7,867 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Immunome by 482.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock valued at $91,000 after purchasing an additional 7,129 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Immunome in the fourth quarter valued at approximately $95,000. 44.58% of the stock is currently 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.

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