Immunome (NASDAQ:IMNM) Now Covered by HC Wainwright

HC Wainwright started coverage on shares of Immunome (NASDAQ:IMNM) in a report issued on Thursday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $40.00 target price on the stock.

Several other research firms have also commented on IMNM. Guggenheim boosted their price target on Immunome from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Leerink Partners set a $40.00 target price on shares of Immunome in a report on Monday, December 15th. Stephens raised their price target on shares of Immunome from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Evercore boosted 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. Finally, Wall Street Zen raised shares of Immunome from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Eleven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.75.

Immunome Stock Down 4.1%

Shares of NASDAQ:IMNM opened at $22.44 on Thursday. The firm has a 50 day moving average of $22.43 and a 200 day moving average of $16.39. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -7.61 and a beta of 2.32. Immunome has a 52 week low of $5.15 and a 52 week high of $27.65.

Insiders Place Their Bets

In other news, Director Isaac Barchas sold 383,200 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $21.74, for a total transaction of $8,330,768.00. Following the sale, the director directly owned 2,031,181 shares of the company’s stock, valued at $44,157,874.94. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clay B. Siegall bought 4,729 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The stock was purchased at an average cost of $21.15 per share, for a total transaction of $100,018.35. Following the completion of the transaction, the chief executive officer owned 665,254 shares in the company, valued at $14,070,122.10. This trade represents a 0.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 68,518 shares of company stock valued at $1,453,958. Insiders own 7.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Assetmark Inc. purchased a new position in shares of Immunome in the third quarter worth about $39,000. BNP Paribas Financial Markets increased its holdings 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 buying an additional 2,909 shares during the period. Strs Ohio acquired a new position in Immunome in the 4th quarter worth approximately $64,000. Tower Research Capital LLC TRC raised its position in 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 buying an additional 3,802 shares during the last quarter. Finally, BIT Capital GmbH acquired a new stake in Immunome during the 3rd quarter valued at approximately $69,000. 44.58% of the stock is owned by institutional investors and hedge funds.

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.