Immunome (NASDAQ:IMNM) Reaches New 52-Week Low After Earnings Miss

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $8.30 and last traded at $8.46, with a volume of 23224 shares trading hands. The stock had previously closed at $8.36.

The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.16). Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. The firm had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.07 million.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IMNM shares. Wedbush reiterated an "outperform" rating and issued a $33.00 price target on shares of Immunome in a report on Thursday. Lifesci Capital started coverage on shares of Immunome in a report on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price target on the stock. Stephens reiterated an "overweight" rating and issued a $30.00 price target on shares of Immunome in a report on Thursday. Finally, Guggenheim cut their price target on shares of Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Immunome currently has a consensus rating of "Buy" and an average target price of $25.50.

Insider Transactions at Immunome

In other Immunome news, CEO Clay B. Siegall bought 150,000 shares of Immunome stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $7.75 per share, with a total value of $1,162,500.00. Following the transaction, the chief executive officer now directly owns 669,636 shares of the company's stock, valued at $5,189,679. This represents a 28.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.60% of the company's stock.

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Institutional Trading of Immunome

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Immunome by 217.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company's stock worth $6,469,000 after buying an additional 302,916 shares during the period. Geode Capital Management LLC grew its position in shares of Immunome by 13.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company's stock worth $17,657,000 after buying an additional 144,557 shares during the period. Magnus Financial Group LLC boosted its stake in Immunome by 107.8% in the 4th quarter. Magnus Financial Group LLC now owns 53,536 shares of the company's stock worth $569,000 after purchasing an additional 27,777 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Immunome by 22.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company's stock worth $6,881,000 after purchasing an additional 85,580 shares in the last quarter. Finally, Barclays PLC boosted its stake in Immunome by 125.9% in the 3rd quarter. Barclays PLC now owns 105,886 shares of the company's stock worth $1,547,000 after purchasing an additional 59,016 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Trading Down 5.5 %

The company has a market cap of $652.58 million, a P/E ratio of -1.01 and a beta of 1.93. The stock's 50 day moving average is $9.76 and its 200-day moving average is $11.53.

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.