Immunome (NASDAQ:IMNM) Stock Price Target Lowered at Piper Sandler

Immunome (NASDAQ:IMNM) had its target price lowered by investment analysts at Piper Sandler from $33.00 to $30.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler‘s price objective suggests a potential upside of 54.96% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Wedbush reissued an “outperform” rating and issued a $35.00 price target on shares of Immunome in a research report on Tuesday, October 27th. Alliance Global Partners started coverage on shares of Immunome in a report on Monday, September 21st. They set a “buy” rating and a $32.00 price objective for the company. HC Wainwright reiterated a “buy” rating on shares of Immunome in a research note on Tuesday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research note on Thursday, October 15th. Finally, William Blair started coverage on shares of Immunome in a report on Friday, October 16th. They issued an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.92.

Immunome Stock Performance

Shares of IMNM stock opened at $19.36 on Tuesday. The stock’s 50 day simple moving average is $21.33 and its 200 day simple moving average is $22.37. Immunome has a twelve month low of $15.46 and a twelve month high of $30.06. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -7.65 and a beta of 2.68.

Immunome (NASDAQ:IMNM) last announced its earnings results on Tuesday, November 10th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.15). On average, analysts forecast that Immunome will post -2.48 EPS for the current fiscal year.

Insider Activity at Immunome

In related news, insider Jack Higgins sold 13,200 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the completion of the sale, the insider owned 65,050 shares in the company, valued at $1,647,066. This represents a 16.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $27.25, for a total value of $301,058.00. Following the completion of the sale, the director directly owned 92,211 shares in the company, valued at $2,512,749.75. This trade represents a 10.70% decrease in their position. 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. 7.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunome

Several hedge funds have recently modified their holdings of the business. Allworth Financial LP acquired a new stake in shares of Immunome in the second quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new position in Immunome during the 2nd quarter valued at $27,000. KBC Group NV acquired a new position in Immunome during the 1st quarter valued at $60,000. GK Wealth Management LLC bought a new stake in Immunome in the 3rd quarter valued at $71,000. Finally, Sterling Capital Management LLC boosted its holdings in Immunome by 840.0% in the 3rd quarter. Sterling Capital Management LLC now owns 3,478 shares of the company’s stock valued at $75,000 after purchasing an additional 3,108 shares during the period. 44.58% of the stock is owned by institutional investors.

Immunome Company Profile

Immunome is a biotechnology company focused on discovering and developing therapies for cancer. It uses an antibody-discovery platform to identify targets and develop medicines intended to address areas of significant unmet medical need.

The company’s research and development programs include targeted cancer treatments, such as antibody-based therapies and other drug candidates. Its portfolio has included investigational medicines for solid tumors and other cancers; these products are in development and are not necessarily approved for commercial use.

Immunome became a publicly traded company in 2023 following a merger with Morphimmune and a combination with Ayala Pharmaceuticals.