Immunome (NASDAQ:IMNM) Shares Up 4.5% - Should You Buy?

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares traded up 4.5% during mid-day trading on Wednesday . The stock traded as high as $8.94 and last traded at $8.99. 94,832 shares were traded during mid-day trading, a decline of 90% from the average session volume of 915,935 shares. The stock had previously closed at $8.60.

Wall Street Analysts Forecast Growth

IMNM has been the topic of a number of research reports. Wedbush reaffirmed an "outperform" rating and set a $21.00 target price (down previously from $33.00) on shares of Immunome in a research note on Tuesday, May 13th. Stephens reiterated an "overweight" rating and set a $30.00 price objective on shares of Immunome in a research report on Thursday, March 20th. Guggenheim cut their price target on Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Lake Street Capital began coverage on shares of Immunome in a report on Wednesday, April 2nd. They issued a "buy" rating and a $23.00 price target for the company. Finally, Wall Street Zen raised shares of Immunome from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Immunome currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.33.

Immunome Price Performance

The firm has a fifty day simple moving average of $7.65 and a two-hundred day simple moving average of $9.54. The firm has a market capitalization of $770.93 million, a P/E ratio of -1.09 and a beta of 2.00.

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

Insider Activity

In related news, CTO Philip Tsai purchased 12,300 shares of Immunome stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the completion of the acquisition, the chief technology officer now directly owns 33,300 shares of the company's stock, valued at $280,386. The trade was a 58.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Clay B. Siegall bought 137,100 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was purchased at an average cost of $7.29 per share, with a total value of $999,459.00. Following the completion of the acquisition, the chief executive officer now directly owns 806,736 shares of the company's stock, valued at approximately $5,881,105.44. The trade was a 20.47% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 156,400 shares of company stock valued at $1,160,495. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunome

Several institutional investors and hedge funds have recently made changes to their positions in IMNM. Invesco Ltd. raised its holdings in shares of Immunome by 6.4% during the first quarter. Invesco Ltd. now owns 28,379 shares of the company's stock valued at $191,000 after purchasing an additional 1,718 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Immunome by 11.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 19,065 shares of the company's stock valued at $202,000 after buying an additional 2,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Immunome by 5.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,505 shares of the company's stock worth $441,000 after acquiring an additional 2,005 shares during the period. Intech Investment Management LLC lifted its holdings in Immunome by 26.5% during the fourth quarter. Intech Investment Management LLC now owns 18,961 shares of the company's stock valued at $201,000 after purchasing an additional 3,974 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Immunome by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 145,564 shares of the company's stock valued at $1,546,000 after acquiring an additional 4,874 shares in the last quarter. Institutional investors own 44.58% of the company's stock.

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.