Immunome (NASDAQ:IMNM) Stock Falls 6.6% - Should You Sell?

Key Points

• Immunome shares fell 6.6% to about $19.78, with trading volume 67% below the average session volume. The stock remains below its 50-day moving average of $25.32 but above its 200-day average of $22.88.
• Analysts remain broadly bullish, with 12 Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and a $34.25 price target—well above the current share price.
• The company reported a quarterly loss of $0.65 per share, missing estimates by $0.14, while insiders sold 223,368 shares worth approximately $5.75 million over the past three months.

Immunome, Inc. (NASDAQ:IMNM - Get Free Report)'s share price dropped 6.6% on Tuesday. The company traded as low as $19.84 and last traded at $19.7820. Approximately 448,182 shares changed hands during trading, a decline of 67% from the average session volume of 1,350,658 shares. The stock had previously closed at $21.17.

Analyst Upgrades and Downgrades

IMNM has been the subject of several recent analyst reports. Alliance Global Partners began coverage on shares of Immunome in a research report on Monday, September 21st. They issued a "buy" rating and a $32.00 target price for the company. Wedbush raised their target price on Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Truist Financial upped their price objective on shares of Immunome from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunome in a research report on Friday, July 17th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $40.00 target price on shares of Immunome in a report on Thursday, September 10th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.

Immunome Stock Performance

The business's 50 day moving average is $25.32 and its 200-day moving average is $22.88. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -7.69 and a beta of 2.55.

Immunome (NASDAQ:IMNM - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). Equities research analysts forecast that Immunome, Inc. will post -2.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jack Higgins sold 13,200 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the transaction, the insider directly owned 65,050 shares in the company, valued at $1,647,066. The trade was a 16.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total value of $2,273,555.44. Following the sale, the insider owned 50,366 shares in the company, valued at approximately $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 a total of 223,368 shares of company stock valued at $5,747,142 over the last three months. 7.21% of the stock is owned by corporate insiders.

Institutional Trading of Immunome

Several large investors have recently added to or reduced their stakes in IMNM. Allworth Financial LP bought a new stake in Immunome during the 2nd quarter worth approximately $25,000. Integrated Wealth Concepts LLC acquired a new position in Immunome during the second quarter valued at approximately $27,000. KBC Group NV acquired a new stake in Immunome during the 1st quarter worth $60,000. Assetmark Inc. lifted its stake in Immunome by 46.6% in the first quarter. Assetmark Inc. now owns 4,535 shares of the company's stock valued at $99,000 after buying an additional 1,442 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Immunome during the second quarter worth about $109,000. 44.58% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.