Immunome (NASDAQ:IMNM) Stock Price Up 7.9% – Here’s What Happened

Immunome, Inc. (NASDAQ:IMNM) traded up 7.9% during mid-day trading on Thursday . The company traded as high as $23.16 and last traded at $23.1850. Approximately 877,764 shares were traded during trading, a decline of 38% from the average session volume of 1,425,535 shares. The stock had previously closed at $21.49.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IMNM. Leerink Partners reduced their price target on Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 15th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Immunome in a report on Wednesday, May 13th. Barclays started coverage on Immunome in a research report on Thursday, May 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Wall Street Zen cut Immunome from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Stephens decreased their price target on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Immunome has an average rating of “Moderate Buy” and a consensus target price of $33.17.

Immunome Trading Up 8.6%

The company has a market cap of $2.64 billion, a P/E ratio of -9.81 and a beta of 2.07. The company’s 50-day moving average price is $20.96 and its two-hundred day moving average price is $21.76.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.12. As a group, analysts anticipate that Immunome, Inc. will post -2.06 earnings per share for the current year.

Insider Buying and Selling at Immunome

In other news, Director Jean Jacques Bienaime acquired 10,500 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $19.45 per share, for a total transaction of $204,225.00. Following the completion of the purchase, the director directly owned 43,415 shares of the company’s stock, valued at $844,421.75. This represents a 31.90% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Lechleider sold 55,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $19.85, for a total value of $1,091,750.00. Following the transaction, the insider directly owned 15,805 shares in the company, valued at approximately $313,729.25. This represents a 77.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunome

Several large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in Immunome by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock valued at $288,305,000 after purchasing an additional 5,003,824 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Immunome by 8,659.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock worth $61,341,000 after buying an additional 2,823,144 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Immunome by 55.2% in the 4th quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock valued at $100,643,000 after buying an additional 1,667,432 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Immunome in the 4th quarter valued at about $30,710,000. Finally, Sofinnova Investments Inc. grew its position in shares of Immunome by 271.2% during the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock valued at $34,765,000 after buying an additional 1,182,426 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

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.