Immunome’s (IMNM) Outperform Rating Reaffirmed at Wedbush

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $31.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 39.92% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research report on Friday. Truist Financial raised their target price on Immunome from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. HC Wainwright restated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Leerink Partners lowered their price target on Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, Wall Street Zen cut Immunome from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.17.

Immunome Price Performance

NASDAQ IMNM traded down $0.01 on Tuesday, reaching $22.16. 43,385 shares of the company’s stock traded hands, compared to its average volume of 1,419,761. The stock has a market cap of $2.51 billion, a PE ratio of -9.29 and a beta of 2.07. Immunome has a 12 month low of $8.66 and a 12 month high of $27.65. The stock has a 50-day simple moving average of $20.98 and a 200 day simple moving average of $21.91.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.12. As a group, analysts anticipate that Immunome will post -2.06 EPS for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, CFO Max Rosett sold 60,000 shares of Immunome stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $18.23, for a total value of $1,093,800.00. Following the completion of the transaction, the chief financial officer directly owned 54,037 shares of the company’s stock, valued at approximately $985,094.51. The trade was a 52.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 16,906 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $24.20, for a total transaction of $409,125.20. Following the completion of the transaction, the director owned 108,504 shares in the company, valued at approximately $2,625,796.80. This represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 472,142 shares of company stock worth $10,262,648 in the last 90 days. Insiders own 7.21% of the company’s stock.

Institutional Investors Weigh In On Immunome

A number of hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV purchased a new stake in shares of Immunome during the 1st quarter valued at about $60,000. BNP Paribas Financial Markets lifted its holdings in 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 in the last quarter. Strs Ohio bought a new position in shares of Immunome in the fourth quarter worth approximately $64,000. Tower Research Capital LLC TRC increased its stake in shares of Immunome by 121.2% in the second 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 in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Immunome during the 3rd quarter valued at $76,000. 44.58% of the stock is currently 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.