Immunome (NASDAQ:IMNM) Stock Jumps 7.6% – What’s Next?

Immunome, Inc. (NASDAQ:IMNM) shares rose 7.6% on Tuesday. The stock traded as high as $18.08 and last traded at $18.0420. Approximately 732,787 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 1,358,075 shares. The stock had previously closed at $16.77.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Truist Financial increased their price target on Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup reaffirmed a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Wedbush upped their target price on Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Alliance Global Partners initiated coverage on Immunome in a research note on Monday, September 21st. They issued a “buy” rating and a $32.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research report on Thursday. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.25.

Immunome Price Performance

The company’s 50-day moving average is $24.11 and its 200-day moving average is $22.72. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -7.18 and a beta of 2.55.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). Sell-side analysts anticipate that Immunome, Inc. will post -2.51 earnings per share for the current year.

Insider Buying and Selling at Immunome

In related news, insider Kinney Horn sold 90,616 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total value of $2,273,555.44. Following the transaction, the insider directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 Immunome stock in a transaction on Friday, September 11th. The shares were sold at an average price of $25.32, for a total value of $334,224.00. Following the completion of the transaction, the insider owned 65,050 shares in the company, valued at $1,647,066. The trade was a 16.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 223,368 shares of company stock worth $5,747,142 in the last quarter. 7.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Immunome

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in Immunome during the second quarter worth about $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Immunome in the 2nd quarter worth about $27,000. KBC Group NV acquired a new position in shares of Immunome in the 1st quarter valued at about $60,000. GK Wealth Management LLC acquired a new position in shares of Immunome in the 3rd quarter valued at about $71,000. Finally, Assetmark Inc. lifted its stake in shares of Immunome by 46.6% in the 1st quarter. Assetmark Inc. now owns 4,535 shares of the company’s stock valued at $99,000 after purchasing an additional 1,442 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Immunome

Immunome, Inc (NASDAQ: IMNM) is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines. Its technology platform analyzes human immune responses to identify antibodies that may be developed into therapies for serious diseases.

The company’s research activities have included therapeutic programs in oncology and immunology, with an emphasis on antibodies designed to affect disease-driving biological pathways. Immunome has also conducted antibody discovery work related to infectious diseases, including SARS-CoV-2, as it has expanded its focus toward broader therapeutic applications.

Immunome is headquartered in Exton, Pennsylvania, and serves the global biopharmaceutical market through internal research and development activities and potential collaborations.