Immunome (NASDAQ:IMNM) Shares Down 5.7% - Should You Sell?

Key Points

• Immunome shares fell 5.7% to about $18.06 in midday trading, with volume down 88% from the average session. The stock is trading below its 50-day moving average of $24.94.
• Analysts remain broadly optimistic, with 12 Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with a $34.25 price target. However, the company recently missed quarterly EPS expectations, reporting a loss of $0.65 versus the expected $0.51 loss.
• Insiders sold 223,368 shares worth approximately $5.75 million during the last quarter, while institutional investors own 44.58% of the company. Immunome remains a clinical-stage biotech developing antibody-based treatments for cancer and immune-related diseases.

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares dropped 5.7% during mid-day trading on Tuesday. The stock traded as low as $18.17 and last traded at $18.06. Approximately 163,892 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,352,647 shares. The stock had previously closed at $19.15.

Wall Street Analysts Forecast Growth

IMNM has been the topic of a number of recent analyst reports. Wedbush raised their price target on shares of Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Alliance Global Partners assumed coverage on Immunome in a research note on Monday, September 21st. They issued a "buy" rating and a $32.00 price target for the company. Truist Financial boosted their target price on shares of Immunome from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Immunome from a "sell" rating to a "strong sell" rating in a research note on Sunday, October 4th. Finally, Stifel Nicolaus initiated coverage on Immunome in a research note on Wednesday, September 30th. They issued a "hold" rating and a $24.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Immunome has an average rating of "Moderate Buy" and a consensus price target of $34.25.

Immunome Trading Down 7.0%

The stock has a market capitalization of $2.02 billion, a PE ratio of -7.05 and a beta of 2.55. The firm's fifty day moving average price is $24.94 and its two-hundred day moving average price is $22.84.

Immunome (NASDAQ:IMNM - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). As a group, sell-side analysts anticipate that Immunome, Inc. will post -2.51 earnings per share for the current fiscal year.

Insider Activity

In other Immunome news, Director Isaac Barchas sold 62,291 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.23, for a total transaction of $1,633,892.93. Following the completion of the sale, the director directly owned 92,211 shares in the company, valued at approximately $2,418,694.53. The trade was a 40.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of Immunome stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total value of $2,273,555.44. Following the completion of the sale, the insider directly owned 50,366 shares in the company, valued at $1,263,682.94. This represents a 64.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 223,368 shares of company stock worth $5,747,142 in the last quarter. Corporate insiders own 7.21% of the company's stock.

Institutional Trading of Immunome

Several large investors have recently bought and sold shares of IMNM. Allworth Financial LP acquired a new position in shares of Immunome during the second quarter worth $25,000. Integrated Wealth Concepts LLC purchased a new stake in Immunome in the second quarter valued at approximately $27,000. KBC Group NV purchased a new stake in shares of Immunome in the first quarter valued at about $60,000. GK Wealth Management LLC purchased a new position in Immunome in the 3rd quarter valued at $71,000. Finally, Assetmark Inc. lifted its holdings in shares of Immunome by 46.6% in the 1st quarter. Assetmark Inc. now owns 4,535 shares of the company's stock valued at $99,000 after buying an additional 1,442 shares during the period. Hedge funds and other institutional investors own 44.58% of the company's stock.

About Immunome

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome's research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.

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