Immunome, Inc. (NASDAQ:IMNM) Forecasted to Earn FY2024 Earnings of ($0.76) Per Share

Immunome, Inc. (NASDAQ:IMNM - Free Report) - Equities research analysts at Leerink Partnrs upped their FY2024 earnings estimates for shares of Immunome in a research note issued on Tuesday, May 14th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($0.76) per share for the year, up from their prior estimate of ($2.19). Leerink Partnrs has a "Outperform" rating on the stock. The consensus estimate for Immunome's current full-year earnings is ($1.72) per share. Leerink Partnrs also issued estimates for Immunome's Q4 2024 earnings at ($0.20) EPS and FY2025 earnings at ($3.88) EPS.

Several other research analysts also recently weighed in on IMNM. JPMorgan Chase & Co. began coverage on Immunome in a report on Tuesday, April 30th. They issued an "overweight" rating and a $24.00 price target for the company. Wedbush reiterated an "outperform" rating and set a $33.00 target price on shares of Immunome in a research report on Tuesday. Guggenheim began coverage on Immunome in a research note on Monday, April 15th. They issued a "buy" rating and a $35.00 price target on the stock. Finally, SVB Leerink assumed coverage on shares of Immunome in a research note on Monday, January 29th. They set an "outperform" rating and a $30.00 price objective for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome presently has a consensus rating of "Buy" and an average target price of $30.50.

Immunome Stock Down 4.0 %

Shares of NASDAQ:IMNM traded down $0.57 during trading on Friday, reaching $13.83. The stock had a trading volume of 698,809 shares, compared to its average volume of 737,716. Immunome has a fifty-two week low of $4.50 and a fifty-two week high of $30.96. The business has a fifty day moving average price of $19.28 and a 200-day moving average price of $15.72. The stock has a market cap of $829.39 million, a P/E ratio of -1.85 and a beta of 1.87.

Immunome (NASDAQ:IMNM - Get Free Report) last released its earnings results on Thursday, March 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.26). Immunome had a negative net margin of 1,829.44% and a negative return on equity of 37.33%. The firm had revenue of $3.83 million during the quarter, compared to analysts' expectations of $3.40 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC increased its position in shares of Immunome by 26.0% in the first quarter. Redmile Group LLC now owns 4,889,554 shares of the company's stock worth $120,674,000 after acquiring an additional 1,010,139 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company's stock valued at $55,425,000 after purchasing an additional 1,194,451 shares in the last quarter. Vanguard Group Inc. raised its position in Immunome by 16.1% in the first quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company's stock valued at $49,847,000 after purchasing an additional 279,712 shares during the period. Janus Henderson Group PLC raised its position in Immunome by 10.6% in the first quarter. Janus Henderson Group PLC now owns 1,538,414 shares of the company's stock valued at $37,957,000 after purchasing an additional 146,943 shares during the period. Finally, Avidity Partners Management LP acquired a new position in shares of Immunome during the fourth quarter worth about $14,268,000. Institutional investors and hedge funds 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.