Immunome (NASDAQ:IMNM) Sets New 52-Week Low - Should You Sell?

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $6.41 and last traded at $6.58, with a volume of 94321 shares trading hands. The stock had previously closed at $6.99.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stephens restated an "overweight" rating and set a $30.00 price target on shares of Immunome in a research report on Thursday, March 20th. Lake Street Capital started coverage on shares of Immunome in a report on Wednesday. They set a "buy" rating and a $23.00 target price on the stock. Guggenheim reduced their target price on shares of Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Lifesci Capital initiated coverage on shares of Immunome in a research report on Tuesday, March 11th. They set an "outperform" rating and a $20.00 price target for the company. Finally, Wedbush reissued an "outperform" rating and issued a $33.00 price target on shares of Immunome in a research report on Thursday, March 20th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome has an average rating of "Buy" and an average price target of $25.14.

Immunome Price Performance

The stock's 50-day moving average is $9.21 and its two-hundred day moving average is $11.09. The company has a market cap of $515.62 million, a P/E ratio of -0.73 and a beta of 2.05.

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Immunome (NASDAQ:IMNM - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate 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. On average, analysts predict that Immunome, Inc. will post -2.21 EPS for the current year.

Insiders Place Their Bets

In other Immunome news, CTO Philip Tsai bought 12,300 shares of Immunome stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $8.42 per share, with a total value of $103,566.00. Following the completion of the acquisition, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. This represents a 58.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Clay B. Siegall purchased 137,100 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of $7.29 per share, for a total transaction of $999,459.00. Following the completion of the transaction, the chief executive officer now directly owns 806,736 shares of the company's stock, valued at approximately $5,881,105.44. This trade represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 306,400 shares of company stock valued at $2,322,995. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Immunome

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new position in Immunome during the third quarter valued at $219,000. Charles Schwab Investment Management Inc. raised its stake in shares of Immunome by 217.0% in the third 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. Cerity Partners LLC lifted its position in shares of Immunome by 10.5% during the 3rd quarter. Cerity Partners LLC now owns 53,103 shares of the company's stock valued at $776,000 after buying an additional 5,043 shares in the last quarter. FMR LLC grew its stake in shares of Immunome by 0.3% during the 3rd quarter. FMR LLC now owns 4,224,700 shares of the company's stock valued at $61,765,000 after acquiring an additional 13,757 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Immunome by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 30,265 shares of the company's stock worth $442,000 after acquiring an additional 17,053 shares in the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.