Leerink Partnrs Decreases Earnings Estimates for Immunome

Immunome, Inc. (NASDAQ:IMNM - Free Report) - Equities researchers at Leerink Partnrs reduced their FY2024 earnings per share estimates for shares of Immunome in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($2.23) per share for the year, down from their prior forecast of ($1.63). The consensus estimate for Immunome's current full-year earnings is ($2.13) per share. Leerink Partnrs also issued estimates for Immunome's Q4 2024 earnings at ($0.81) EPS, FY2025 earnings at ($4.17) EPS, FY2026 earnings at ($4.36) EPS and FY2027 earnings at ($3.97) EPS.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Immunome from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday. Stephens assumed coverage on Immunome in a research note on Friday, November 8th. They issued an "overweight" rating and a $30.00 price target on the stock. Finally, Wedbush restated an "outperform" rating and set a $33.00 price objective on shares of Immunome in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $28.83.

Immunome Price Performance

Immunome stock traded down $0.47 during mid-day trading on Monday, reaching $9.44. 1,877,380 shares of the company were exchanged, compared to its average volume of 772,648. The company has a fifty day simple moving average of $13.12 and a 200-day simple moving average of $13.79. The firm has a market cap of $588.93 million, a PE ratio of -1.22 and a beta of 1.82. Immunome has a 12 month low of $6.93 and a 12 month high of $30.96.

Institutional Trading of Immunome

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank bought a new position in Immunome in the 1st quarter valued at approximately $1,762,000. Sei Investments Co. acquired a new position in Immunome in the 1st quarter valued at approximately $469,000. Vanguard Group Inc. raised its stake in shares of Immunome by 16.1% during the first quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company's stock valued at $49,847,000 after acquiring an additional 279,712 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Immunome by 602.1% during the first quarter. Acadian Asset Management LLC now owns 133,438 shares of the company's stock worth $3,292,000 after purchasing an additional 114,433 shares during the period. Finally, EntryPoint Capital LLC grew its stake in shares of Immunome by 21,864.0% in the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company's stock worth $136,000 after purchasing an additional 5,466 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Immunome news, CFO Max Rosett sold 14,380 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.01, for a total value of $230,223.80. Following the completion of the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at approximately $760,090.76. This trade represents a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.60% of the company's stock.

About Immunome

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.