Immunome (NASDAQ:IMNM) Earns Buy Rating from Analysts at Alliance Global Partners

Alliance Global Partners began coverage on shares of Immunome (NASDAQ:IMNM) in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $32.00 target price on the stock.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Immunome from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research note on Friday, July 17th. Wedbush raised their price target on Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Truist Financial boosted their price objective on Immunome from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.18.

Immunome Trading Down 5.9%

Immunome stock opened at $24.24 on Monday. The firm has a 50 day moving average of $25.47 and a 200 day moving average of $22.85. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -9.58 and a beta of 2.13. Immunome has a 12-month low of $10.00 and a 12-month high of $30.06.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). On average, analysts predict that Immunome will post -2.38 EPS for the current year.

Insiders Place Their Bets

In other news, Director Isaac Barchas sold 11,048 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total transaction of $301,058.00. Following the sale, the director directly owned 92,211 shares of the company’s stock, valued at $2,512,749.75. This represents a 10.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 13,200 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the completion of the sale, the insider owned 65,050 shares in the company, valued at $1,647,066. This represents a 16.87% 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. Insiders have sold a total of 580,510 shares of company stock valued at $13,824,240 in the last quarter. 7.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new stake in Immunome during the second quarter worth approximately $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Immunome in the 2nd quarter valued at approximately $576,000. Readystate Asset Management LP boosted its holdings in shares of Immunome by 23.3% in the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock worth $34,027,000 after purchasing an additional 303,958 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Immunome in the 2nd quarter worth approximately $552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Immunome by 0.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,636 shares of the company’s stock worth $3,997,000 after purchasing an additional 1,625 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapies for cancer and other serious diseases. The company uses proprietary antibody discovery and engineering technologies designed to identify therapeutic candidates from human immune responses and advance them into clinical development.

Immunome’s activities include the development of novel immunotherapies and targeted biologic medicines, with research programs aimed at addressing significant unmet needs in oncology and inflammatory or immune-mediated diseases.