Insider Buying: Immunome, Inc. (NASDAQ:IMNM) CEO Purchases 66,057 Shares of Stock

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) CEO Clay B. Siegall acquired 66,057 shares of the business's stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $9.54 per share, with a total value of $630,183.78. Following the completion of the purchase, the chief executive officer now owns 485,693 shares in the company, valued at $4,633,511.22. This represents a 15.74 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Immunome Price Performance

IMNM traded up $1.33 during trading hours on Monday, reaching $11.15. The company's stock had a trading volume of 2,245,245 shares, compared to its average volume of 779,781. The stock has a market cap of $695.98 million, a PE ratio of -1.37 and a beta of 1.82. Immunome, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $30.96. The business's 50-day moving average is $12.49 and its 200-day moving average is $13.55.

Hedge Funds Weigh In On Immunome

Large investors have recently modified their holdings of the business. Sofinnova Investments Inc. raised its holdings in Immunome by 10.3% in the 2nd quarter. Sofinnova Investments Inc. now owns 655,680 shares of the company's stock valued at $7,934,000 after buying an additional 61,284 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Immunome in the 1st quarter valued at approximately $3,038,000. Victory Capital Management Inc. lifted its holdings in shares of Immunome by 48.1% in the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company's stock worth $10,684,000 after acquiring an additional 237,497 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company's stock worth $55,425,000 after acquiring an additional 1,194,451 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Immunome during the 2nd quarter worth approximately $1,379,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IMNM. Piper Sandler lowered their target price on shares of Immunome from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Wedbush reissued an "outperform" rating and issued a $33.00 price target on shares of Immunome in a research note on Friday, October 25th. Finally, Stephens began coverage on shares of Immunome in a research note on Friday, November 8th. They set an "overweight" rating and a $30.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $28.83.

Immunome Company Profile

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.