Immunome (NASDAQ:IMNM) Trading Up 11.5% - What's Next?

Key Points

• Immunome's shares surged by 11.5%, reaching a last trading price of $13.80, with a significant increase in trading volume of 26% from average daily activity.
• Analysts have mixed opinions on Immunome, with ten buy ratings, and a consensus target price of $23.20, while one firm has issued a sell rating.
• Immunome reported its recent earnings with a loss of $0.50 per share, slightly beating expectations, and has a forecasted -2.21 EPS for the current year.

Immunome, Inc. (NASDAQ:IMNM - Get Free Report)'s share price traded up 11.5% during mid-day trading on Monday . The company traded as high as $13.76 and last traded at $13.80. 1,374,123 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 1,089,927 shares. The stock had previously closed at $12.38.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IMNM. The Goldman Sachs Group initiated coverage on shares of Immunome in a research report on Monday, September 22nd. They set a "buy" rating and a $26.00 target price for the company. Wedbush reiterated an "outperform" rating and set a $21.00 price objective on shares of Immunome in a report on Thursday, September 18th. Craig Hallum initiated coverage on Immunome in a research report on Friday, September 5th. They issued a "buy" rating and a $26.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunome in a research report on Saturday, September 27th. Finally, Evercore ISI initiated coverage on Immunome in a report on Friday, August 22nd. They issued an "outperform" rating and a $18.00 price target for the company. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.20.

Immunome Stock Performance

The stock has a market capitalization of $1.25 billion, a PE ratio of -4.68 and a beta of 1.94. The firm's 50 day moving average is $10.24 and its two-hundred day moving average is $9.04.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.02. Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.10%. The company had revenue of $4.02 million during the quarter, compared to the consensus estimate of $1.03 million. On average, analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current year.

Institutional Trading of Immunome

Large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas increased its stake in Immunome by 6.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 18,548 shares of the company's stock valued at $172,000 after buying an additional 1,188 shares during the period. Main Management ETF Advisors LLC boosted its holdings in Immunome by 1.6% during the second quarter. Main Management ETF Advisors LLC now owns 76,944 shares of the company's stock worth $716,000 after buying an additional 1,248 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Immunome by 3.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,187 shares of the company's stock valued at $470,000 after buying an additional 1,643 shares in the last quarter. Invesco Ltd. lifted its position in shares of Immunome by 6.4% during the 1st quarter. Invesco Ltd. now owns 28,379 shares of the company's stock valued at $191,000 after acquiring an additional 1,718 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Immunome by 81.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock valued at $60,000 after purchasing an additional 2,909 shares in the last quarter. Institutional investors and hedge funds 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.

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