Immunome (NASDAQ:IMNM) Hits New 1-Year High – Here’s Why

Shares of Immunome, Inc. (NASDAQ:IMNM) reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.84 and last traded at $29.00, with a volume of 267207 shares changing hands. The stock had previously closed at $27.56.

Wall Street Analyst Weigh In

Several research analysts have commented on IMNM shares. Wedbush boosted their target price on Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Wall Street Zen cut shares of Immunome from a “sell” rating to a “strong sell” rating in a research report on Saturday. Barclays assumed coverage on shares of Immunome in a research note on Thursday, May 28th. They issued an “overweight” rating and a $36.00 price objective for the company. Citigroup restated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Immunome Stock Up 8.1%

The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -11.65 and a beta of 2.07. The stock has a 50 day moving average price of $22.56 and a 200 day moving average price of $22.25.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). Sell-side analysts forecast that Immunome, Inc. will post -2.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunome

In other news, insider Kinney Horn sold 90,616 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the completion of the transaction, the insider owned 50,366 shares of the company’s stock, valued at approximately $1,263,682.94. This trade represents a 64.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 101,050 shares of Immunome stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the transaction, the director owned 308,504 shares in the company, valued at approximately $6,515,604.48. This trade represents a 24.67% 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. In the last quarter, insiders have sold 682,310 shares of company stock valued at $15,675,566. Insiders own 7.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC bought a new stake in shares of Immunome in the 2nd quarter valued at about $299,000. Corient Private Wealth LP bought a new position in shares of Immunome during the second quarter worth about $916,000. Bank of America Corp DE acquired a new position in shares of Immunome in the second quarter worth approximately $13,729,000. Jupiter Topco LLC acquired a new position in shares of Immunome in the second quarter worth approximately $973,000. Finally, Primecap Management Co. CA bought a new stake in Immunome in the second quarter valued at approximately $97,081,000. 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.