Truist Financial Upgrades Immunome (NASDAQ:IMNM) to Strong-Buy

Key Points

• Truist upgraded Immunome (NASDAQ:IMNM) to a "Strong-Buy" in a research note published Monday.
• Overall analyst sentiment is mixed—MarketBeat shows a consensus rating of "Moderate Buy" with a consensus price target of $33.45, while individual ratings range from sell to buy.
• Immunome trades around $23.33 (market cap ~$2.64B) after reporting a quarterly EPS miss of ($0.75) and a projected -2.5 EPS for the year, and insiders sold 139,438 shares (~$2.96M) over the last three months.

Immunome (NASDAQ:IMNM - Get Free Report) was upgraded by equities researchers at Truist Financial to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunome in a research report on Tuesday, April 21st. Stephens dropped their target price on shares of Immunome from $33.00 to $30.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. Wall Street Zen lowered shares of Immunome from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Craig Hallum lifted their target price on shares of Immunome from $33.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Finally, HC Wainwright assumed coverage on shares of Immunome in a research report on Thursday, February 12th. They issued a "buy" rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.45.

Immunome Stock Performance

IMNM stock opened at $23.33 on Monday. The firm has a market cap of $2.64 billion, a PE ratio of -9.64 and a beta of 2.11. The firm's fifty day moving average is $21.88 and its 200 day moving average is $20.82. Immunome has a one year low of $7.15 and a one year high of $27.65.

Immunome (NASDAQ:IMNM - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.10). Research analysts predict that Immunome will post -2.5 earnings per share for the current fiscal year.

Insider Transactions at Immunome

In other news, Director Philip Wagenheim sold 36,800 shares of the firm's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $20.47, for a total value of $753,296.00. Following the transaction, the director directly owned 369,347 shares of the company's stock, valued at approximately $7,560,533.09. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jack Higgins sold 9,438 shares of the firm's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $21.64, for a total transaction of $204,238.32. Following the completion of the transaction, the insider directly owned 22,000 shares in the company, valued at approximately $476,080. This represents a 30.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 139,438 shares of company stock valued at $2,964,664. Corporate insiders own 7.21% of the company's stock.

Hedge Funds Weigh In On Immunome

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new position in shares of Immunome in the fourth quarter worth about $64,000. Assetmark Inc. purchased a new position in shares of Immunome in the third quarter worth about $39,000. Aster Capital Management DIFC Ltd purchased a new position in Immunome during the fourth quarter worth about $121,000. BIT Capital GmbH purchased a new position in Immunome during the third quarter worth about $69,000. Finally, BNP Paribas Financial Markets raised its stake in Immunome by 81.8% during the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock worth $60,000 after purchasing an additional 2,909 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome's approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company's lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.

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