Immunome, Inc. (NASDAQ:IMNM) Stock Has Consensus Price Target of $34.25

Immunome, Inc. (NASDAQ:IMNM) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $34.25.

IMNM has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Immunome in a report on Thursday, September 10th. Wedbush lifted their price objective on shares of Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Finally, Truist Financial upped their target price on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th.

Immunome Trading Up 1.2%

Shares of Immunome stock opened at $19.55 on Wednesday. The business’s 50 day simple moving average is $25.02 and its 200-day simple moving average is $22.83. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -7.73 and a beta of 2.55. Immunome has a twelve month low of $13.49 and a twelve month high of $30.06.

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 analysts’ consensus estimates of ($0.51) by ($0.14). Sell-side analysts predict that Immunome will post -2.43 earnings per share for the current year.

Insider Activity

In other news, insider Kinney Horn sold 90,616 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was 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 directly owned 50,366 shares in the company, valued at approximately $1,263,682.94. The trade was a 64.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 11,048 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total value of $301,058.00. Following the completion of the transaction, the director directly owned 92,211 shares of the company’s stock, valued at $2,512,749.75. This trade represents a 10.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 223,368 shares of company stock valued at $5,747,142. Insiders own 7.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IMNM. GK Wealth Management LLC acquired a new position in shares of Immunome during the third quarter valued at $71,000. Integrated Wealth Concepts LLC acquired a new stake in Immunome in the second quarter worth about $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Immunome in the 2nd quarter valued at about $576,000. Readystate Asset Management LP grew its position in Immunome by 23.3% in the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock valued at $34,027,000 after buying an additional 303,958 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Immunome in the 2nd quarter valued at about $552,000. Institutional investors own 44.58% of the company’s stock.

About Immunome

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome’s research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.