Immunome (NASDAQ:IMNM) Shares Down 7% – Should You Sell?

Immunome, Inc. (NASDAQ:IMNM) shares fell 7% on Monday . The stock traded as low as $19.71 and last traded at $19.3670. 230,996 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,076,331 shares. The stock had previously closed at $20.82.

Analyst Ratings Changes

IMNM has been the topic of a number of research reports. Wall Street Zen upgraded shares of Immunome from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Leerink Partners set a $40.00 price objective on Immunome in a report on Monday, December 15th. Guggenheim increased their target price on Immunome from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research note on Wednesday, October 8th. Finally, Truist Financial initiated coverage on Immunome in a research report on Monday, December 1st. They set a “buy” rating and a $36.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.09.

Immunome Trading Up 1.2%

The stock has a market cap of $1.83 billion, a P/E ratio of -6.77 and a beta of 2.22. The stock has a 50 day simple moving average of $18.99 and a 200 day simple moving average of $13.76.

Immunome (NASDAQ:IMNM) last released its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Immunome had a negative return on equity of 76.50% and a negative net margin of 1,687.08%. Equities analysts anticipate that Immunome, Inc. will post -2.21 earnings per share for the current year.

Insider Activity at Immunome

In other news, insider Philip Tsai acquired 10,000 shares of the stock in a transaction on Friday, December 19th. The stock was acquired at an average cost of $20.49 per share, for a total transaction of $204,900.00. Following the completion of the transaction, the insider directly owned 43,300 shares in the company, valued at approximately $887,217. This trade represents a 30.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Clay B. Siegall purchased 46,511 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was acquired at an average price of $21.50 per share, for a total transaction of $999,986.50. Following the purchase, the chief executive officer owned 853,247 shares in the company, valued at approximately $18,344,810.50. The trade was a 5.77% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 68,518 shares of company stock valued at $1,453,958 over the last three months. 7.69% of the stock is owned by insiders.

Institutional Trading of Immunome

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in shares of Immunome by 6.4% during the first quarter. Invesco Ltd. now owns 28,379 shares of the company’s stock worth $191,000 after buying an additional 1,718 shares in the last quarter. MetLife Investment Management LLC grew its position in Immunome by 19.1% during the 1st quarter. MetLife Investment Management LLC now owns 42,411 shares of the company’s stock worth $285,000 after acquiring an additional 6,792 shares during the last quarter. Corebridge Financial Inc. increased its holdings in Immunome by 35.9% in the 1st quarter. Corebridge Financial Inc. now owns 34,735 shares of the company’s stock worth $234,000 after purchasing an additional 9,179 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Immunome by 44.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company’s stock worth $316,000 after purchasing an additional 14,398 shares in the last quarter. Finally, Exome Asset Management LLC bought a new position in Immunome in the first quarter valued at about $1,776,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.