Immunome (NASDAQ:IMNM) Shares Gap Down – Should You Sell?

Immunome, Inc. (NASDAQ:IMNM) gapped down before the market opened on Wednesday . The stock had previously closed at $23.48, but opened at $21.60. Immunome shares last traded at $21.3160, with a volume of 2,520,923 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IMNM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a report on Wednesday, October 8th. Truist Financial assumed coverage on Immunome in a research report on Monday, December 1st. They set a “buy” rating and a $36.00 target price on the stock. Evercore ISI upped their price target on Immunome from $18.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday. Guggenheim increased their price target on Immunome from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Immunome from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Immunome has a consensus rating of “Moderate Buy” and an average target price of $30.09.

Immunome Price Performance

The business’s 50 day moving average price is $17.53 and its 200 day moving average price is $12.60. The firm has a market cap of $1.83 billion, a PE ratio of -6.76 and a beta of 2.17.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Immunome had a negative return on equity of 76.50% and a negative net margin of 1,687.08%. As a group, analysts predict that Immunome, Inc. will post -2.21 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Clay B. Siegall acquired 46,511 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were bought at an average price of $21.50 per share, for a total transaction of $999,986.50. Following the acquisition, the chief executive officer owned 853,247 shares of the company’s stock, valued at approximately $18,344,810.50. This trade represents a 5.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 7.69% of the company’s stock.

Hedge Funds Weigh In On Immunome

Several hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. acquired a new position in Immunome during the third quarter worth about $39,000. BNP Paribas Financial Markets lifted its stake in Immunome by 81.8% in the 2nd 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 in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Immunome by 121.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock worth $65,000 after purchasing an additional 3,802 shares during the last quarter. BIT Capital GmbH acquired a new position in shares of Immunome during the 3rd quarter worth approximately $69,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Immunome in the third quarter valued at approximately $76,000. 44.58% of the stock is owned by hedge funds and other 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.