Immunome (NASDAQ:IMNM) Price Target Raised to $36.00

Immunome (NASDAQ:IMNM) had its target price raised by equities research analysts at Craig Hallum from $33.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 59.22% from the company’s previous close.

IMNM has been the topic of several other research reports. Stephens dropped their target price on Immunome from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday. Lake Street Capital lifted their price target on Immunome from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. HC Wainwright began coverage on Immunome in a report on Thursday, February 12th. They issued a “buy” rating and a $40.00 price objective for the company. Leerink Partners set a $40.00 target price on Immunome in a research note on Monday, December 15th. Finally, Truist Financial initiated coverage on Immunome in a report on Monday, December 1st. They set a “buy” rating and a $36.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.33.

Immunome Price Performance

Shares of IMNM traded up $1.07 during trading hours on Wednesday, reaching $22.61. 518,176 shares of the company’s stock traded hands, compared to its average volume of 1,567,203. Immunome has a twelve month low of $5.15 and a twelve month high of $27.65. The business’s fifty day simple moving average is $22.78 and its two-hundred day simple moving average is $17.54. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -7.66 and a beta of 2.12.

Immunome (NASDAQ:IMNM) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.10). Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.50%. On average, equities research analysts expect that Immunome will post -2.21 EPS for the current year.

Insiders Place Their Bets

In other news, insider Philip Tsai acquired 10,000 shares of Immunome stock in a transaction on Friday, December 19th. The stock was bought at an average cost of $20.49 per share, with a total value of $204,900.00. Following the completion of the purchase, the insider owned 43,300 shares of the company’s stock, valued at $887,217. This represents a 30.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Isaac Barchas sold 383,200 shares of Immunome stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $21.74, for a total transaction of $8,330,768.00. Following the completion of the transaction, the director directly owned 2,031,181 shares in the company, valued at approximately $44,157,874.94. This trade represents a 15.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 68,518 shares of company stock worth $1,453,958. Company insiders own 7.69% of the company’s stock.

Institutional Trading of Immunome

Several institutional investors have recently made changes to their positions in IMNM. Stoneridge Investment Partners LLC increased its stake in Immunome by 5.4% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 12,174 shares of the company’s stock valued at $143,000 after buying an additional 620 shares during the period. ANTIPODES PARTNERS Ltd increased its stake in shares of Immunome by 6.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 10,892 shares of the company’s stock worth $128,000 after acquiring an additional 631 shares during the last quarter. Creative Planning raised its holdings in shares of Immunome by 4.0% during the third quarter. Creative Planning now owns 18,664 shares of the company’s stock worth $219,000 after acquiring an additional 710 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Immunome by 14.4% during the fourth quarter. Russell Investments Group Ltd. now owns 7,417 shares of the company’s stock worth $159,000 after acquiring an additional 935 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Immunome by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 67,012 shares of the company’s stock valued at $1,439,000 after purchasing an additional 1,167 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.