Weiss Ratings Reiterates Sell (D-) Rating for Immunome (NASDAQ:IMNM)

Key Points

• Weiss Ratings has reaffirmed a Sell (D-) rating for Immunome (NASDAQ:IMNM), indicating concerns over the company's performance.
• Despite the negative rating from Weiss, several analysts have issued Buy ratings with target prices ranging from $18.00 to $26.00, suggesting a divided outlook on the stock.
• Immunome reported a net loss with earnings per share of ($0.50), surpassing the consensus estimate, and total revenue for the quarter was significantly higher than expected at $4.02 million.

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "sell (d-)" rating restated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also weighed in on IMNM. Evercore ISI began coverage on Immunome in a report on Friday, August 22nd. They set an "outperform" rating and a $18.00 target price on the stock. The Goldman Sachs Group assumed coverage on Immunome in a report on Monday, September 22nd. They issued a "buy" rating and a $26.00 price target on the stock. Guggenheim restated a "buy" rating and issued a $25.00 price target on shares of Immunome in a report on Monday, August 25th. Wedbush restated an "outperform" rating and issued a $21.00 price target on shares of Immunome in a report on Thursday, September 18th. Finally, Craig Hallum assumed coverage on Immunome in a report on Friday, September 5th. They issued a "buy" rating and a $26.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.20.

Immunome Trading Up 1.4%

IMNM stock opened at $14.01 on Wednesday. The business's 50-day moving average price is $10.37 and its two-hundred day moving average price is $9.11. The firm has a market cap of $1.22 billion, a PE ratio of -4.55 and a beta of 1.94. Immunome has a 1-year low of $5.15 and a 1-year high of $15.13.

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

Institutional Trading of Immunome

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of Immunome by 81.8% in the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock valued at $60,000 after acquiring an additional 2,909 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Immunome by 121.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company's stock valued at $65,000 after acquiring an additional 3,802 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Immunome in the first quarter valued at about $95,000. Brighton Jones LLC acquired a new stake in shares of Immunome in the second quarter valued at about $98,000. Finally, KLP Kapitalforvaltning AS increased its position in shares of Immunome by 140.8% in the first quarter. KLP Kapitalforvaltning AS now owns 17,100 shares of the company's stock valued at $115,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

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.

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