Immunome (NASDAQ:IMNM) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Immunome (NASDAQ:IMNM) announced its quarterly earnings results on Tuesday. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.12, FiscalAI reports.

Immunome Trading Down 1.3%

IMNM stock traded down $0.31 during trading on Tuesday, hitting $22.69. The company had a trading volume of 1,320,579 shares, compared to its average volume of 1,380,931. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -9.38 and a beta of 2.11. The business has a 50 day moving average of $21.97 and a 200 day moving average of $21.05. Immunome has a fifty-two week low of $7.42 and a fifty-two week high of $27.65.

Analysts Set New Price Targets

IMNM has been the subject of several analyst reports. Truist Financial raised shares of Immunome to a “strong-buy” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Immunome from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Tuesday, April 21st. Craig Hallum upped their price objective on shares of Immunome from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, HC Wainwright began coverage on shares of Immunome in a report on Thursday, February 12th. They issued a “buy” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Immunome presently has a consensus rating of “Moderate Buy” and an average target price of $33.45.

Insider Buying and Selling

In related news, CFO Max Rosett sold 65,000 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total value of $1,424,800.00. Following the completion of the sale, the chief financial officer owned 54,037 shares of the company’s stock, valued at $1,184,491.04. This represents a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Philip Wagenheim sold 28,200 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $20.65, for a total transaction of $582,330.00. Following the completion of the sale, the director directly owned 341,147 shares of the company’s stock, valued at $7,044,685.55. The trade was a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 139,438 shares of company stock valued at $2,964,664 over the last 90 days. 7.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunome

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Immunome by 81.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock valued at $60,000 after acquiring an additional 2,909 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in 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 during the last quarter. Russell Investments Group Ltd. acquired a new stake in Immunome in the 3rd quarter valued at about $76,000. Velan Capital Investment Management LP acquired a new stake in Immunome in the 3rd quarter valued at about $117,000. Finally, Quarry LP acquired a new stake in Immunome in the 3rd quarter valued at about $117,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Company Profile

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.