Wedbush Raises Immunome (NASDAQ:IMNM) Price Target to $33.00

Immunome (NASDAQ:IMNM - Get Free Report) had its price objective boosted by equities research analysts at Wedbush from $27.00 to $33.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's price objective would suggest a potential upside of 49.25% from the stock's current price.

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

Immunome Stock Performance

IMNM stock traded down $2.57 during midday trading on Monday, reaching $22.11. The company's stock had a trading volume of 1,173,576 shares, compared to its average volume of 709,280. The stock has a fifty day simple moving average of $22.67 and a two-hundred day simple moving average of $13.78. Immunome has a 1 year low of $4.44 and a 1 year high of $30.96. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -4.10 and a beta of 1.66.

Hedge Funds Weigh In On Immunome

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in Immunome by 3.2% during the fourth quarter. Royal Bank of Canada now owns 29,484 shares of the company's stock valued at $315,000 after acquiring an additional 928 shares during the period. BlackRock Inc. grew its position in Immunome by 4.3% during the second quarter. BlackRock Inc. now owns 43,312 shares of the company's stock valued at $343,000 after acquiring an additional 1,773 shares during the period. HighTower Advisors LLC grew its position in Immunome by 19.0% during the third quarter. HighTower Advisors LLC now owns 18,818 shares of the company's stock valued at $157,000 after acquiring an additional 3,000 shares during the period. Dorsey Wright & Associates purchased a new stake in Immunome during the third quarter valued at about $26,000. Finally, Vanguard Group Inc. grew its position in Immunome by 0.8% during the third quarter. Vanguard Group Inc. now owns 373,685 shares of the company's stock valued at $1,659,000 after acquiring an additional 3,149 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Company Profile

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.