Immunome (NASDAQ:IMNM) Trading 8.1% Higher – Here’s Why

Immunome, Inc. (NASDAQ:IMNM) shares shot up 8.1% during mid-day trading on Thursday . The stock traded as high as $22.60 and last traded at $22.4450. 2,207,358 shares were traded during mid-day trading, a decline of 5% from the average session volume of 2,329,743 shares. The stock had previously closed at $20.76.

Analyst Ratings Changes

Several equities analysts recently commented on IMNM shares. Guggenheim upped their price target on shares of Immunome from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Stephens boosted their price objective on shares of Immunome from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Immunome in a research report on Thursday. Leerink Partners set a $40.00 target price on shares of Immunome in a research note on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a report on Wednesday, October 8th. Ten research 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 a consensus rating of “Moderate Buy” and an average price target of $31.00.

Immunome Stock Performance

The company has a market capitalization of $2.10 billion, a PE ratio of -7.75 and a beta of 2.22. The company has a 50 day moving average price of $19.54 and a 200 day moving average price of $14.22.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts forecast that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Philip Tsai purchased 10,000 shares of Immunome stock in a transaction dated Friday, December 19th. The shares were acquired at an average price of $20.49 per share, with a total value of $204,900.00. Following the completion of the transaction, the insider owned 43,300 shares of the company’s stock, valued at approximately $887,217. This trade represents a 30.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Isaac Barchas sold 383,200 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $21.74, for a total value of $8,330,768.00. Following the transaction, the director directly owned 2,031,181 shares in the company, valued at approximately $44,157,874.94. This represents a 15.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 68,518 shares of company stock worth $1,453,958. 7.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunome

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assetmark Inc. acquired a new stake in Immunome in the third quarter worth $39,000. BNP Paribas Financial Markets increased its holdings in shares of Immunome by 81.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after acquiring an additional 2,909 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Immunome by 121.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock worth $65,000 after acquiring an additional 3,802 shares during the period. BIT Capital GmbH bought a new stake in Immunome in the 3rd quarter valued at about $69,000. Finally, Russell Investments Group Ltd. acquired a new position in Immunome during the 3rd quarter valued at about $76,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.