Immunome (NASDAQ:IMNM) Announces Earnings Results, Misses Estimates By $0.14 EPS

Immunome (NASDAQ:IMNM) posted its quarterly earnings results on Tuesday. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14), FiscalAI reports.

Immunome Price Performance

IMNM traded up $0.56 during trading on Tuesday, hitting $26.25. The stock had a trading volume of 881,978 shares, compared to its average volume of 1,382,115. The company has a 50 day moving average price of $21.59 and a 200-day moving average price of $22.17. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -11.03 and a beta of 2.07. Immunome has a one year low of $8.66 and a one year high of $27.65.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IMNM shares. Wall Street Zen downgraded Immunome from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Truist Financial increased their price target on Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Wedbush reaffirmed an “outperform” rating and set a $31.00 price target on shares of Immunome in a report on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Finally, Citigroup reiterated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Immunome has a consensus rating of “Moderate Buy” and an average target price of $34.18.

Insider Transactions at Immunome

In other news, insider Kinney Horn sold 90,616 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total value of $2,273,555.44. Following the completion of the sale, the insider owned 50,366 shares of the company’s stock, valued at approximately $1,263,682.94. The trade was a 64.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $19.85, for a total transaction of $1,091,750.00. Following the completion of the transaction, the insider owned 15,805 shares in the company, valued at $313,729.25. This trade represents a 77.68% 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. In the last 90 days, insiders sold 598,846 shares of company stock valued at $13,476,656. Corporate insiders own 7.21% of the company’s stock.

Institutional Trading of Immunome

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in shares of Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after purchasing an additional 2,909 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings 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 worth $65,000 after purchasing an additional 3,802 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Immunome in the third quarter valued at approximately $76,000. Velan Capital Investment Management LP acquired a new stake in shares of Immunome in the third quarter valued at approximately $117,000. Finally, Quarry LP bought a new stake in shares of Immunome in the third quarter valued at approximately $117,000. Institutional investors and hedge funds 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.