Immunome, Inc. (NASDAQ:IMNM) Sees Large Decline in Short Interest

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 9,070,000 shares, a drop of 13.9% from the January 15th total of 10,540,000 shares. Based on an average daily volume of 1,000,000 shares, the short-interest ratio is presently 9.1 days. Approximately 13.0% of the company's stock are short sold.

Insider Buying and Selling

In other news, CEO Clay B. Siegall purchased 150,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the purchase, the chief executive officer now owns 669,636 shares of the company's stock, valued at approximately $5,189,679. This trade represents a 28.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Immunome

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Immunome by 217.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company's stock valued at $6,469,000 after buying an additional 302,916 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Immunome by 48.1% during the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company's stock valued at $10,684,000 after buying an additional 237,497 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company's stock valued at $17,657,000 after buying an additional 144,557 shares during the last quarter. Magnus Financial Group LLC raised its holdings in shares of Immunome by 107.8% during the fourth quarter. Magnus Financial Group LLC now owns 53,536 shares of the company's stock valued at $569,000 after buying an additional 27,777 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Immunome by 22.2% during the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company's stock valued at $6,881,000 after buying an additional 85,580 shares during the last quarter. Institutional investors own 44.58% of the company's stock.

Immunome Stock Up 2.1 %

IMNM stock traded up $0.21 during midday trading on Thursday, reaching $10.11. The company had a trading volume of 529,969 shares, compared to its average volume of 992,399. The stock has a 50 day moving average price of $10.61 and a 200 day moving average price of $12.32. Immunome has a fifty-two week low of $8.97 and a fifty-two week high of $30.96. The firm has a market capitalization of $806.58 million, a PE ratio of -1.25 and a beta of 1.90.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler decreased their price target on Immunome from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Wedbush restated an "outperform" rating and issued a $33.00 target price on shares of Immunome in a research note on Monday, January 13th. Finally, Stephens initiated coverage on Immunome in a research note on Friday, November 8th. They issued an "overweight" rating and a $30.00 target price for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome has an average rating of "Buy" and an average price target of $28.60.

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.