Immunome, Inc. (NASDAQ:IMNM) Sees Significant Drop in Short Interest

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 8,800,000 shares, a drop of 10.1% from the November 30th total of 9,790,000 shares. Based on an average trading volume of 788,200 shares, the days-to-cover ratio is currently 11.2 days. Approximately 17.2% of the company's stock are sold short.

Insider Transactions at Immunome

In related news, CTO Philip Tsai bought 21,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $9.43 per share, with a total value of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares of the company's stock, valued at approximately $198,030. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 102,862 shares of company stock worth $978,045. Insiders own 8.60% of the company's stock.

Institutional Trading of Immunome

Institutional investors have recently modified their holdings of the business. Quest Partners LLC acquired a new position in shares of Immunome during the 2nd quarter worth $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Immunome during the second quarter valued at about $97,000. Arizona State Retirement System grew its holdings in shares of Immunome by 9.2% during the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company's stock worth $131,000 after purchasing an additional 918 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Immunome in the third quarter worth $219,000. Finally, AQR Capital Management LLC grew its stake in shares of Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company's stock valued at $194,000 after buying an additional 4,129 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on IMNM. Piper Sandler reduced their price target on Immunome from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Wedbush restated an "outperform" rating and set a $33.00 price target on shares of Immunome in a research report on Friday, October 25th. Finally, Stephens began coverage on shares of Immunome in a report on Friday, November 8th. They issued an "overweight" rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $28.83.

Immunome Trading Up 3.3 %

Shares of NASDAQ IMNM traded up $0.34 during midday trading on Wednesday, reaching $10.62. 1,036,301 shares of the company were exchanged, compared to its average volume of 788,943. The stock has a market cap of $662.90 million, a P/E ratio of -1.31 and a beta of 1.83. Immunome has a 1 year low of $8.97 and a 1 year high of $30.96. The stock has a fifty day simple moving average of $11.96 and a 200 day simple moving average of $13.09.

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.