Immunome, Inc. (NASDAQ:IMNM) Forecasted to Post Q1 2024 Earnings of ($0.52) Per Share

Immunome, Inc. (NASDAQ:IMNM - Free Report) - Equities research analysts at Wedbush decreased their Q1 2024 earnings per share (EPS) estimates for Immunome in a note issued to investors on Monday, April 1st. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings per share of ($0.52) for the quarter, down from their previous forecast of ($0.24). Wedbush has a "Outperform" rating and a $33.00 price target on the stock. The consensus estimate for Immunome's current full-year earnings is ($1.46) per share. Wedbush also issued estimates for Immunome's Q2 2024 earnings at ($0.53) EPS, Q3 2024 earnings at ($0.60) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($2.28) EPS, FY2025 earnings at ($3.11) EPS, FY2026 earnings at ($3.17) EPS, FY2027 earnings at ($2.61) EPS and FY2028 earnings at ($1.68) EPS.

A number of other equities research analysts have also recently issued reports on the company. Leerink Partnrs reiterated an "outperform" rating on shares of Immunome in a research note on Monday, January 29th. SVB Leerink began coverage on Immunome in a research note on Monday, January 29th. They issued an "outperform" rating and a $30.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $31.50.

Immunome Price Performance

IMNM traded down $1.34 during trading hours on Thursday, hitting $20.26. 669,844 shares of the stock were exchanged, compared to its average volume of 710,381. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -3.76 and a beta of 1.66. Immunome has a 12 month low of $4.44 and a 12 month high of $30.96. The stock has a 50-day simple moving average of $23.00 and a 200-day simple moving average of $13.98.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Immunome by 339.0% during the 4th quarter. Vanguard Group Inc. now owns 1,740,026 shares of the company's stock worth $18,618,000 after buying an additional 1,343,697 shares during the period. Avidity Partners Management LP bought a new stake in Immunome during the fourth quarter worth approximately $14,268,000. Price T Rowe Associates Inc. MD boosted its position in Immunome by 505.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,051,222 shares of the company's stock worth $11,249,000 after purchasing an additional 877,592 shares during the period. Point72 Asset Management L.P. bought a new stake in Immunome during the second quarter worth approximately $3,307,000. Finally, TD Asset Management Inc bought a new stake in shares of Immunome in the third quarter valued at approximately $1,063,000. 44.58% of the stock is owned by institutional investors and hedge funds.

About Immunome

Immunome, Inc operates as a biotechnology company that develops targeted cancer therapies. Its portfolio includes immunotherapies, targeted effectors, radioligand therapies, and antibody drug conjugates (ADCs). The company also offers rapid screening of novel antibodies and targets through memory B cell hybridoma technology.