Immunome (NASDAQ:IMNM) Trading 4.5% Higher - Here's Why

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) traded up 4.5% during mid-day trading on Wednesday . The company traded as high as $8.94 and last traded at $8.99. 94,832 shares traded hands 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IMNM. Wedbush reiterated an "outperform" rating and set a $21.00 target price (down from $33.00) on shares of Immunome in a report on Tuesday, May 13th. Wall Street Zen upgraded Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Lake Street Capital started coverage on Immunome in a research note on Wednesday, April 2nd. They set a "buy" rating and a $23.00 target price on the stock. Stephens restated an "overweight" rating and set a $30.00 target price on shares of Immunome in a report on Thursday, March 20th. Finally, Lifesci Capital initiated coverage on shares of Immunome in a report on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.33.

Immunome Stock Up 3.4%

The stock's fifty day simple moving average is $7.65 and its 200 day simple moving average is $9.52. The firm has a market capitalization of $788.33 million, a PE ratio of -1.12 and a beta of 2.00.

Immunome (NASDAQ:IMNM - Get Free Report) last announced 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. The company had revenue of $2.93 million during the quarter, compared to the consensus estimate of $0.46 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. On average, analysts predict that Immunome, Inc. will post -2.21 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Clay B. Siegall acquired 137,100 shares of the business's 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 acquisition, the chief executive officer now directly owns 806,736 shares in the company, valued at $5,881,105.44. This represents a 20.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Philip Tsai bought 12,300 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average cost 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. This represents a 58.57% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 156,400 shares of company stock worth $1,160,495 over the last three months. 8.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunome

Several large investors have recently made changes to their positions in IMNM. T. Rowe Price Investment Management Inc. boosted its stake in 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 buying an additional 2,054,640 shares during the last quarter. Redmile Group LLC increased its position in Immunome by 11.0% in the first quarter. Redmile Group LLC now owns 5,361,187 shares of the company's stock worth $36,081,000 after purchasing an additional 533,161 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 purchasing an additional 1,303,753 shares in the last quarter. EcoR1 Capital LLC lifted its position in 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 purchasing an additional 200,000 shares during the last quarter. Finally, Enavate Sciences GP LLC purchased a new position in shares of Immunome in the 4th quarter worth $36,939,000. 44.58% of the stock is owned by institutional investors.

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.