Immunome (NASDAQ:IMNM) Shares Down 5.4% – What’s Next?

Immunome, Inc. (NASDAQ:IMNM)’s stock price traded down 5.4% during trading on Friday . The stock traded as low as $21.90 and last traded at $21.7280. 247,516 shares traded hands during trading, a decline of 82% from the average session volume of 1,358,743 shares. The stock had previously closed at $22.96.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Craig Hallum lifted their target price on shares of Immunome from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Stephens lowered their price target on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Leerink Partners lowered their price target on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a report on Tuesday, April 21st. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Immunome in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.82.

Immunome Trading Down 5.7%

The stock’s 50-day moving average is $21.94 and its 200-day moving average is $21.36. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -9.10 and a beta of 2.11.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.12. As a group, analysts predict that Immunome, Inc. will post -2.26 EPS for the current year.

Insider Activity at Immunome

In related news, Director Philip Wagenheim sold 36,800 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $20.47, for a total transaction of $753,296.00. Following the transaction, the director owned 369,347 shares in the company, valued at $7,560,533.09. The trade was a 9.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Max Rosett sold 65,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,424,800.00. Following the transaction, the chief financial officer owned 54,037 shares in the company, valued at $1,184,491.04. The trade was a 54.60% 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 139,438 shares of company stock worth $2,964,664 over the last quarter. 7.21% of the stock is currently owned by insiders.

Institutional Trading of Immunome

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. bought a new stake in Immunome during the 3rd quarter valued at $39,000. KBC Group NV bought a new stake in Immunome during the 1st quarter valued at $60,000. BNP Paribas Financial Markets increased its stake in Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock valued at $60,000 after purchasing an additional 2,909 shares in the last quarter. Strs Ohio bought a new stake in Immunome during the 4th quarter valued at $64,000. Finally, Tower Research Capital LLC TRC increased its stake in Immunome by 121.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after purchasing an additional 3,802 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

About Immunome

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.