Immunome (NASDAQ:IMNM) Stock Price Up 7.6% - What's Next?

Key Points

• Immunome shares jumped 7.6% to about $18.04, although trading volume was 46% below the stock’s average daily volume.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus from 15 analysts and an average price target of $34.25; targets include $32 from Alliance Global Partners and $35 from Wedbush.
• The company remains unprofitable, reporting quarterly EPS of -$0.65 versus expectations of -$0.51, while insiders sold 223,368 shares worth approximately $5.75 million over the past three months.

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shot up 7.6% during mid-day trading on Tuesday. The company traded as high as $18.08 and last traded at $18.0420. Approximately 732,787 shares traded hands during trading, a decline of 46% from the average daily volume of 1,358,075 shares. The stock had previously closed at $16.77.

Analysts Set New Price Targets

Several research firms have recently commented on IMNM. Alliance Global Partners assumed coverage on Immunome in a report on Monday, September 21st. They issued a "buy" rating and a $32.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunome in a report on Thursday. Wall Street Zen cut Immunome from a "sell" rating to a "strong sell" rating in a research report on Sunday, October 4th. Wedbush raised their target price on Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Finally, Citigroup reissued a "buy" rating on shares of Immunome in a report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $34.25.

Immunome Stock Up 8.3%

The company has a market cap of $2.06 billion, a price-to-earnings ratio of -7.18 and a beta of 2.55. The company has a fifty day simple moving average of $24.11 and a two-hundred day simple moving average of $22.72.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). On average, research analysts predict that Immunome, Inc. will post -2.51 EPS for the current year.

Insider Activity at Immunome

In other Immunome news, insider Kinney Horn sold 90,616 shares of Immunome stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the completion of the transaction, the insider owned 50,366 shares in the company, valued at approximately $1,263,682.94. The trade was a 64.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 13,200 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $25.32, for a total transaction of $334,224.00. Following the completion of the sale, the insider directly owned 65,050 shares in the company, valued at $1,647,066. This trade represents a 16.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 223,368 shares of company stock valued at $5,747,142. Insiders own 7.21% of the company's stock.

Institutional Trading of Immunome

Large investors have recently modified their holdings of the business. GK Wealth Management LLC acquired a new stake in shares of Immunome during the 3rd quarter worth about $71,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Immunome during the second quarter worth about $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Immunome in the second quarter valued at approximately $576,000. Readystate Asset Management LP raised its position in shares of Immunome by 23.3% in the second quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company's stock valued at $34,027,000 after buying an additional 303,958 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Immunome during the second quarter valued at approximately $552,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Company Profile

Immunome, Inc NASDAQ: IMNM is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines. Its technology platform analyzes human immune responses to identify antibodies that may be developed into therapies for serious diseases.

The company's research activities have included therapeutic programs in oncology and immunology, with an emphasis on antibodies designed to affect disease-driving biological pathways. Immunome has also conducted antibody discovery work related to infectious diseases, including SARS-CoV-2, as it has expanded its focus toward broader therapeutic applications.

Immunome is headquartered in Exton, Pennsylvania, and serves the global biopharmaceutical market through internal research and development activities and potential collaborations.

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