Immunome’s (IMNM) Outperform Rating Reiterated at Wedbush

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research note issued to investors on Friday,Benzinga reports. They currently have a $31.00 price objective on the stock. Wedbush’s price objective points to a potential upside of 64.72% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Barclays began coverage on Immunome in a research note on Thursday, May 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Stephens dropped their price objective on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research report on Tuesday, April 21st. Craig Hallum boosted their target price on shares of Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Leerink Partners decreased their target price on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.17.

Immunome Stock Performance

Shares of Immunome stock traded up $0.46 on Friday, reaching $18.82. 184,808 shares of the company were exchanged, compared to its average volume of 1,347,450. The company’s 50-day moving average is $21.85 and its two-hundred day moving average is $21.71. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -7.92 and a beta of 2.04. Immunome has a 1-year low of $7.96 and a 1-year high of $27.65.

Immunome (NASDAQ:IMNM) last released 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. As a group, sell-side analysts forecast that Immunome will post -2.06 earnings per share for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, Director Philip Wagenheim sold 28,200 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $20.65, for a total value of $582,330.00. Following the sale, the director directly owned 341,147 shares in the company, valued at approximately $7,044,685.55. The trade was a 7.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Max Rosett sold 65,000 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,424,800.00. Following the completion of the sale, the chief financial officer directly owned 54,037 shares of the company’s stock, valued at $1,184,491.04. The trade was a 54.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,438 shares of company stock valued at $2,964,664 in the last ninety days. 7.21% of the stock is owned by insiders.

Institutional Trading of Immunome

A number of large investors have recently added to or reduced their stakes in IMNM. NEOS Investment Management LLC increased its holdings in shares of Immunome by 40.5% in the third quarter. NEOS Investment Management LLC now owns 162,186 shares of the company’s stock valued at $1,899,000 after buying an additional 46,755 shares in the last quarter. Pivotal bioVenture Partners Investment Advisor LLC bought a new stake in shares of Immunome during the 3rd quarter worth $5,884,000. TD Asset Management Inc boosted its stake in shares of Immunome by 15.8% during the 3rd quarter. TD Asset Management Inc now owns 701,280 shares of the company’s stock worth $8,212,000 after acquiring an additional 95,750 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Immunome by 1,749.3% in the 4th quarter. SG Americas Securities LLC now owns 162,168 shares of the company’s stock worth $3,483,000 after acquiring an additional 153,399 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. grew its holdings in shares of Immunome by 20.7% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 714,553 shares of the company’s stock worth $15,349,000 after acquiring an additional 122,450 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Immunome Company Profile

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.