Immunome, Inc. (NASDAQ:IMNM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Immunome, Inc. (NASDAQ:IMNM) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $34.6364.

A number of research firms have commented on IMNM. Leerink Partners dropped their price objective on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Truist Financial upped their price target on Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Barclays assumed coverage on shares of Immunome in a research note on Thursday, May 28th. They issued an “overweight” rating and a $36.00 target price for the company. Finally, Wedbush increased their price target on shares of Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th.

Insiders Place Their Bets

In other Immunome news, CFO Max Rosett sold 60,000 shares of the stock in a transaction on Monday, June 15th. The stock was 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 owned 54,037 shares in the company, valued at approximately $985,094.51. This represents a 52.61% decrease in their ownership of the stock. The transaction 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, Director Isaac Barchas sold 101,050 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the completion of the sale, the director owned 308,504 shares of the company’s stock, valued at $6,515,604.48. This trade represents a 24.67% 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. Over the last ninety days, insiders sold 682,310 shares of company stock worth $15,675,566. Insiders own 7.21% of the company’s stock.

Institutional Trading of Immunome

A number of institutional investors have recently bought and sold shares of IMNM. BlackRock Inc. purchased a new position in shares of Immunome in the second quarter valued at $186,588,000. T. Rowe Price Investment Management Inc. raised its position in Immunome by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock worth $288,305,000 after acquiring an additional 5,003,824 shares during the last quarter. Primecap Management Co. CA acquired a new position in Immunome during the second quarter worth about $97,081,000. JPMorgan Chase & Co. increased its stake in shares of Immunome by 8,659.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock worth $61,341,000 after purchasing an additional 2,823,144 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Immunome during the 4th quarter worth approximately $30,710,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Immunome Stock Up 0.7%

IMNM opened at $27.40 on Tuesday. Immunome has a 52 week low of $8.66 and a 52 week high of $28.62. The business’s 50 day moving average is $22.37 and its two-hundred day moving average is $22.23. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -10.83 and a beta of 2.07.

Immunome (NASDAQ:IMNM) last announced its earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). Equities analysts expect that Immunome will post -2.3 EPS for the current fiscal year.

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.