Immunome’s (IMNM) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Immunome (NASDAQ:IMNM) in a research report released on Tuesday,Benzinga reports. Wedbush currently has a $35.00 price target on the stock.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus started coverage on Immunome in a research note on Wednesday, September 30th. They set a “hold” rating and a $24.00 price objective on the stock. Wall Street Zen cut shares of Immunome from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Truist Financial increased their price target on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. William Blair initiated coverage on Immunome in a research report on Friday, October 16th. They set an “outperform” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Thursday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.25.

Immunome Trading Down 2.5%

NASDAQ IMNM opened at $18.29 on Tuesday. The firm has a market capitalization of $2.08 billion, a PE ratio of -7.23 and a beta of 2.55. The business’s 50-day moving average price is $22.64 and its two-hundred day moving average price is $22.48. Immunome has a 12 month low of $14.64 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). As a group, analysts forecast that Immunome will post -2.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunome

In other Immunome news, insider Jack Higgins sold 13,200 shares of the business’s stock in a transaction dated 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 directly owned 65,050 shares in the company, valued at $1,647,066. The trade was a 16.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of Immunome stock in a transaction 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 transaction, the director owned 92,211 shares in the company, valued at $2,512,749.75. This represents a 10.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 223,368 shares of company stock worth $5,747,142. 7.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Immunome

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Immunome in the second quarter worth about $186,588,000. Wellington Management Group LLP grew its holdings in Immunome by 10.1% in the second quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company’s stock worth $110,404,000 after purchasing an additional 478,239 shares during the last quarter. Primecap Management Co. CA purchased a new position in Immunome during the 2nd quarter worth $97,081,000. Readystate Asset Management LP grew its stake in shares of Immunome by 23.3% during the second quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock worth $34,027,000 after acquiring an additional 303,958 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Immunome by 285.6% during the 1st quarter. Bank of America Corp DE now owns 781,607 shares of the company’s stock valued at $17,094,000 after purchasing an additional 578,890 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.