Immunome (NASDAQ:IMNM) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Immunome (NASDAQ:IMNM) in a report published on Tuesday,RTT News reports. They currently have a $21.00 price target on the stock, down from their previous price target of $33.00.

A number of other equities analysts have also recently issued reports on IMNM. Lifesci Capital assumed coverage on Immunome in a report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Immunome in a research note on Thursday, March 20th. Guggenheim cut their target price on shares of Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Lake Street Capital started coverage on shares of Immunome in a report on Wednesday, April 2nd. They set a “buy” rating and a $23.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome presently has an average rating of “Buy” and a consensus target price of $23.33.

Immunome Stock Up 0.4%

NASDAQ:IMNM opened at $8.00 on Tuesday. Immunome has a twelve month low of $5.15 and a twelve month high of $16.81. The stock’s 50-day simple moving average is $7.66 and its 200 day simple moving average is $9.85. The firm has a market capitalization of $696.10 million, a PE ratio of -0.99 and a beta of 2.00.

Immunome (NASDAQ:IMNM) last issued its earnings results on Monday, May 12th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. The firm had revenue of $2.93 million for the quarter, compared to analyst estimates of $0.46 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. On average, analysts anticipate that Immunome will post -2.21 EPS for the current fiscal year.

Insider Activity

In related news, CEO Clay B. Siegall bought 137,100 shares of Immunome stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $7.29 per share, for a total transaction of $999,459.00. Following the completion of the acquisition, the chief executive officer now directly owns 806,736 shares of the company’s stock, valued at approximately $5,881,105.44. The trade was a 20.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $8.21 per share, with a total value of $57,470.00. Following the acquisition, the director now owns 23,615 shares in the company, valued at approximately $193,879.15. The trade was a 42.13% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 156,400 shares of company stock valued at $1,160,495. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

A number of hedge funds have recently bought and sold shares of IMNM. JPMorgan Chase & Co. boosted its position in Immunome by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after acquiring an additional 1,520 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Immunome by 6.4% in the 1st quarter. Invesco Ltd. now owns 28,379 shares of the company’s stock valued at $191,000 after purchasing an additional 1,718 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Immunome by 11.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 19,065 shares of the company’s stock valued at $202,000 after purchasing an additional 2,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Immunome by 5.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,505 shares of the company’s stock worth $441,000 after purchasing an additional 2,005 shares during the period. Finally, Intech Investment Management LLC grew its stake in Immunome by 26.5% during the fourth quarter. Intech Investment Management LLC now owns 18,961 shares of the company’s stock worth $201,000 after purchasing an additional 3,974 shares during the period. Institutional investors own 44.58% of the company’s stock.

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.