Immunome (NASDAQ:IMNM) Shares Down 7.6% – Time to Sell?

Immunome, Inc. (NASDAQ:IMNM) traded down 7.6% during trading on Monday . The stock traded as low as $20.10 and last traded at $20.18. 533,806 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,346,057 shares. The stock had previously closed at $21.83.

Analyst Ratings Changes

Several analysts recently commented on the stock. Craig Hallum raised their price objective on shares of Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Barclays assumed coverage on shares of Immunome in a research note on Thursday. They issued an “overweight” rating and a $36.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research note on Tuesday, April 21st. Stephens reduced their price objective on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 4th. Finally, Leerink Partners dropped their target price on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.17.

Immunome Price Performance

The company’s 50-day moving average is $22.08 and its 200-day moving average is $21.62. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -8.99 and a beta of 2.04.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.12. Sell-side analysts anticipate that Immunome, Inc. will post -2.26 earnings per share for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, Director Jean Jacques Bienaime purchased 5,000 shares of Immunome stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $20.70 per share, with a total value of $103,500.00. Following the completion of the transaction, the director directly owned 43,415 shares in the company, valued at approximately $898,690.50. This represents a 13.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip Wagenheim sold 36,800 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $20.47, for a total transaction of $753,296.00. Following the transaction, the director directly owned 369,347 shares in the company, valued at approximately $7,560,533.09. The trade was a 9.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 139,438 shares of company stock valued at $2,964,664. 7.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently made changes to their positions in IMNM. Assetmark Inc. bought a new stake in shares of Immunome in the third quarter worth $39,000. KBC Group NV bought a new stake in shares of Immunome in the first quarter worth $60,000. BNP Paribas Financial Markets increased its stake in shares of Immunome by 81.8% in the second 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. Strs Ohio bought a new stake in shares of Immunome in the fourth quarter worth $64,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Immunome by 121.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock worth $65,000 after buying an additional 3,802 shares during the last quarter. Institutional investors own 44.58% of the company’s stock.

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.