Lake Street Capital Begins Coverage on Immunome (NASDAQ:IMNM)

Lake Street Capital initiated coverage on shares of Immunome (NASDAQ:IMNM - Free Report) in a research report report published on Wednesday, Marketbeat reports. The firm issued a buy rating and a $23.00 target price on the stock.

Several other equities research analysts have also recently commented on the stock. Stephens reiterated an "overweight" rating and issued a $30.00 price target on shares of Immunome in a research report on Thursday, March 20th. Guggenheim dropped their target price on shares of Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Wedbush restated an "outperform" rating and set a $33.00 target price on shares of Immunome in a report on Thursday, March 20th. Finally, Lifesci Capital started coverage on shares of Immunome in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $25.14.

Immunome Stock Performance

Shares of IMNM stock traded down $0.19 during midday trading on Wednesday, reaching $5.74. 373,845 shares of the company were exchanged, compared to its average volume of 881,771. The company's 50 day moving average price is $9.13 and its two-hundred day moving average price is $10.96. The company has a market cap of $498.84 million, a P/E ratio of -0.71 and a beta of 2.05. Immunome has a 12 month low of $5.40 and a 12 month high of $21.72.

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Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.16). Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The firm had revenue of $2.74 million for the quarter, compared to the consensus estimate of $3.07 million. As a group, sell-side analysts predict that Immunome will post -2.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jean Jacques Bienaime purchased 7,000 shares of Immunome stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $8.21 per share, with a total value of $57,470.00. Following the completion of the transaction, the director now directly owns 23,615 shares of the company's stock, valued at $193,879.15. This trade represents a 42.13 % increase 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 hyperlink. Also, CEO Clay B. Siegall bought 150,000 shares of the business's stock in a transaction on Friday, January 31st. The stock was bought at an average price of $7.75 per share, with a total value of $1,162,500.00. Following the transaction, the chief executive officer now owns 669,636 shares in the company, valued at approximately $5,189,679. This represents a 28.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 306,400 shares of company stock worth $2,322,995. Corporate insiders own 8.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IMNM. BNP Paribas Financial Markets acquired a new stake in shares of Immunome during the 4th quarter valued at about $70,000. KLP Kapitalforvaltning AS bought a new position in Immunome during the fourth quarter valued at approximately $75,000. AlphaQuest LLC lifted its stake in Immunome by 786,700.0% in the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company's stock valued at $84,000 after acquiring an additional 7,867 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Immunome by 482.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock worth $91,000 after acquiring an additional 7,129 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Immunome during the 4th quarter worth $95,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

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.