Immunome (NASDAQ:IMNM) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of Immunome (NASDAQ:IMNM) to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

IMNM has been the subject of a number of other reports. Truist Financial increased their price objective on shares of Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Immunome in a report on Wednesday, May 13th. Stephens cut their target price on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Tuesday, April 21st. Finally, Craig Hallum raised their target price on shares of Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Immunome currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.

Immunome Price Performance

Shares of IMNM opened at $22.54 on Thursday. Immunome has a 1 year low of $7.96 and a 1 year high of $27.65. The company has a 50 day simple moving average of $22.06 and a two-hundred day simple moving average of $21.58. The firm has a market cap of $2.55 billion, a P/E ratio of -9.47 and a beta of 2.11.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.12. On average, sell-side analysts anticipate that Immunome will post -2.26 earnings per share for the current year.

Insider Activity

In other news, Director Jean Jacques Bienaime acquired 5,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $20.70 per share, with a total value of $103,500.00. Following the completion of the purchase, the director directly owned 43,415 shares of the company’s stock, valued at $898,690.50. This represents a 13.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip Wagenheim sold 36,800 shares of Immunome stock in a transaction on Friday, March 20th. The stock was sold at an average price of $20.47, for a total transaction of $753,296.00. Following the transaction, the director directly owned 369,347 shares of the company’s stock, valued at $7,560,533.09. The trade was a 9.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 139,438 shares of company stock valued at $2,964,664 over the last ninety days. 7.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. purchased a new stake in shares of Immunome during the third quarter valued at $39,000. KBC Group NV purchased a new stake in shares of Immunome during the first quarter valued at $60,000. BNP Paribas Financial Markets boosted its stake in shares of Immunome by 81.8% during the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock valued at $60,000 after purchasing an additional 2,909 shares during the period. Strs Ohio purchased a new stake in shares of Immunome during the fourth quarter valued at $64,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Immunome by 121.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after purchasing an additional 3,802 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.