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 reissued by equities research analysts at Wedbush in a research report issued on Thursday,RTT News reports. They currently have a $21.00 price target on the stock. Wedbush's price objective would indicate a potential upside of 116.72% from the company's current price.

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

Immunome Stock Performance

Shares of IMNM traded down $0.18 during mid-day trading on Thursday, reaching $9.69. 579,893 shares of the company's stock traded hands, compared to its average volume of 823,784. The business's 50-day moving average price is $9.55 and its 200-day moving average price is $8.92. The stock has a market capitalization of $843.42 million, a P/E ratio of -3.15 and a beta of 1.93. Immunome has a 12 month low of $5.15 and a 12 month high of $16.73.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.02. The firm had revenue of $4.02 million for the quarter, compared to the consensus estimate of $1.03 million. Immunome had a negative return on equity of 78.93% and a negative net margin of 1,687.08%. Equities research analysts anticipate that Immunome will post -2.21 EPS for the current year.

Insider Activity at Immunome

In other news, Director Jean Jacques Bienaime acquired 5,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were bought at an average price of $9.38 per share, with a total value of $46,900.00. Following the purchase, the director owned 36,415 shares of the company's stock, valued at approximately $341,572.70. This represents a 15.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Immunome

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC raised its holdings in shares of Immunome by 17.8% in the 2nd quarter. Intech Investment Management LLC now owns 40,565 shares of the company's stock worth $377,000 after purchasing an additional 6,141 shares in the last quarter. Creative Planning bought a new stake in shares of Immunome in the 2nd quarter worth approximately $167,000. Candriam S.C.A. bought a new position in shares of Immunome in the second quarter valued at $2,958,000. Geode Capital Management LLC increased its holdings in shares of Immunome by 6.7% in the second quarter. Geode Capital Management LLC now owns 1,860,580 shares of the company's stock valued at $17,305,000 after buying an additional 117,523 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. bought a new position in shares of Immunome in the second quarter valued at $5,104,000. 44.58% of the stock is currently owned by institutional investors.

About Immunome

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.