Immunome (NASDAQ:IMNM) Trading 8.1% Higher – Should You Buy?

Immunome, Inc. (NASDAQ:IMNM) was up 8.1% on Thursday . The stock traded as high as $22.60 and last traded at $22.4450. Approximately 2,207,358 shares were traded during trading, a decline of 5% from the average daily volume of 2,329,743 shares. The stock had previously closed at $20.76.

Analyst Upgrades and Downgrades

Several research firms have commented on IMNM. Evercore ISI lifted their price objective on shares of Immunome from $18.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Truist Financial began coverage on shares of Immunome in a report on Monday, December 1st. They issued a “buy” rating and a $36.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a research note on Wednesday, October 8th. Leerink Partners set a $40.00 price target on shares of Immunome in a report on Monday, December 15th. Finally, Lake Street Capital increased their price objective on shares of Immunome from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Immunome Stock Down 1.9%

The stock’s 50 day moving average price is $19.83 and its 200-day moving average price is $14.37. The stock has a market capitalization of $2.06 billion, a PE ratio of -7.60 and a beta of 2.22.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) 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, sell-side analysts predict that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Activity

In other Immunome news, Director Isaac Barchas sold 383,200 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $21.74, for a total transaction of $8,330,768.00. Following the transaction, the director directly owned 2,031,181 shares in the company, valued at $44,157,874.94. This trade represents a 15.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Philip Tsai bought 10,000 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were purchased at an average cost of $20.49 per share, with a total value of $204,900.00. Following the completion of the transaction, the insider owned 43,300 shares in the company, valued at $887,217. This represents a 30.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 68,518 shares of company stock valued at $1,453,958. Corporate insiders own 7.69% of the company’s stock.

Hedge Funds Weigh In On Immunome

Institutional investors have recently made changes to their positions in the company. Kennedy Capital Management LLC raised its stake in Immunome by 642.6% in the second quarter. Kennedy Capital Management LLC now owns 109,352 shares of the company’s stock worth $1,017,000 after buying an additional 94,627 shares in the last quarter. Tema Etfs LLC purchased a new position in shares of Immunome in the 2nd quarter valued at $1,074,000. Nisa Investment Advisors LLC raised its position in shares of Immunome by 3,513.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 80,426 shares of the company’s stock worth $942,000 after acquiring an additional 78,200 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Immunome by 17.8% during 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 during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Immunome during the 2nd quarter worth $793,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.