Immunome's (IMNM) "Outperform" Rating Reiterated at Wedbush

Key Points

• Wedbush has restated its "outperform" rating for Immunome (NASDAQ: IMNM) with a price target of $21.00, indicating a potential upside of 101.36% from its last close.
• Wall Street Zen upgraded Immunome from a "sell" to a "hold" rating, with one analyst rating it as hold and six as buy, leading to a consensus target price of $23.33.
• Immunome recently reported earnings of ($0.50) EPS for the quarter, slightly surpassing estimates, while insiders, including Director Jean Jacques Bienaime, increased their holdings in the company.

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Wedbush in a research note issued on Thursday,RTT News reports. They currently have a $21.00 price target on the stock. Wedbush's price target indicates a potential upside of 119.67% from the company's current price.

Separately, Wall Street Zen upgraded shares of Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Immunome has a consensus rating of "Moderate Buy" and a consensus price target of $23.14.

Immunome Trading Down 1.3%

NASDAQ:IMNM traded down $0.13 during trading hours on Thursday, hitting $9.56. 157,217 shares of the company traded hands, compared to its average volume of 1,020,178. The stock has a market capitalization of $832.10 million, a price-to-earnings ratio of -3.10 and a beta of 1.93. Immunome has a twelve month low of $5.15 and a twelve month high of $16.73. The firm has a 50-day moving average of $9.55 and a 200 day moving average of $8.90.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.02. Immunome had a negative return on equity of 76.10% and a negative net margin of 1,687.08%. The company had revenue of $4.02 million for the quarter, compared to the consensus estimate of $1.03 million. Equities research analysts predict that Immunome will post -2.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jean Jacques Bienaime bought 5,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were bought at an average cost of $9.38 per share, for a total transaction of $46,900.00. Following the purchase, the director owned 36,415 shares of the company's stock, valued at $341,572.70. This trade represents a 15.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunome

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Immunome by 2,822.9% during the 1st quarter. GAMMA Investing LLC now owns 6,138 shares of the company's stock valued at $410,000 after buying an additional 5,928 shares during the period. BNP Paribas Financial Markets acquired a new stake in Immunome during the fourth quarter worth $70,000. KLP Kapitalforvaltning AS bought a new stake in shares of Immunome in the 4th quarter valued at approximately $75,000. Tower Research Capital LLC TRC boosted its position in shares of Immunome by 482.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock worth $91,000 after purchasing an additional 7,129 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Immunome during the 4th quarter worth $95,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Immunome Company Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.