Immunome (NASDAQ:IMNM) Hits New 12-Month High – Here’s Why

Shares of Immunome, Inc. (NASDAQ:IMNM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.65 and last traded at $20.54, with a volume of 118976 shares trading hands. The stock had previously closed at $20.30.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stephens increased their price objective on shares of Immunome from $25.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Immunome from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Wedbush restated an “outperform” rating and set a $21.00 price objective on shares of Immunome in a research report on Friday, November 7th. Finally, The Goldman Sachs Group began coverage on shares of Immunome in a research report on Monday, September 22nd. They issued a “buy” rating and a $26.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.00.

Immunome Stock Down 1.7%

The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -6.78 and a beta of 2.17. The firm has a 50-day moving average of $16.64 and a two-hundred day moving average of $12.12.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.50%. As a group, sell-side analysts predict that Immunome, Inc. will post -2.21 EPS for the current year.

Institutional Investors Weigh In On Immunome

A number of institutional investors and hedge funds have recently modified their holdings of IMNM. Assetmark Inc. bought a new position in Immunome in the third quarter valued at $39,000. BNP Paribas Financial Markets boosted its stake 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 buying an additional 2,909 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Immunome by 121.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after acquiring an additional 3,802 shares in the last quarter. BIT Capital GmbH acquired a new stake in shares of Immunome in the third quarter valued at about $69,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Immunome in the third quarter valued at about $76,000. 44.58% of the stock is owned by institutional investors.

About Immunome

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.