Immunome, Inc. (NASDAQ:IMNM) Short Interest Update

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 9,790,000 shares, a decline of 8.2% from the November 15th total of 10,670,000 shares. Based on an average daily trading volume, of 787,600 shares, the short-interest ratio is presently 12.4 days. Approximately 19.3% of the company's stock are sold short.

Analyst Ratings Changes

IMNM has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and issued a $33.00 price objective on shares of Immunome in a research report on Friday, October 25th. Stephens assumed coverage on Immunome in a report on Friday, November 8th. They set an "overweight" rating and a $30.00 price target for the company. Finally, Piper Sandler dropped their price objective on Immunome from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Seven equities research 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 target price of $28.83.

Immunome Stock Performance

IMNM traded down $0.14 on Monday, reaching $12.44. The company had a trading volume of 548,050 shares, compared to its average volume of 777,472. The stock has a market cap of $776.47 million, a P/E ratio of -1.53 and a beta of 1.83. Immunome has a fifty-two week low of $7.48 and a fifty-two week high of $30.96. The company's fifty day moving average is $12.22 and its 200 day moving average is $13.43.

Insider Buying and Selling at Immunome

In other news, CFO Max Rosett sold 14,380 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total transaction of $230,223.80. Following the sale, the chief financial officer now owns 47,476 shares in the company, valued at $760,090.76. This represents a 23.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Clay B. Siegall bought 66,057 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of $9.54 per share, with a total value of $630,183.78. Following the completion of the purchase, the chief executive officer now directly owns 485,693 shares of the company's stock, valued at $4,633,511.22. This represents a 15.74 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 102,862 shares of company stock worth $978,045. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Immunome

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in Immunome during the 2nd quarter worth approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Immunome in the second quarter valued at about $97,000. Arizona State Retirement System boosted its position in shares of Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company's stock valued at $131,000 after acquiring an additional 918 shares during the period. 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 acquiring an additional 4,129 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Immunome during the second quarter worth about $206,000. Institutional investors and hedge funds own 44.58% 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.