Immunome (NASDAQ:IMNM) Shares Gap Up on Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $10.32, but opened at $11.16. Immunome shares last traded at $10.87, with a volume of 472,104 shares traded.

Specifically, CEO Clay B. Siegall bought 150,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $7.75 per share, with a total value of $1,162,500.00. Following the completion of the transaction, the chief executive officer now directly owns 669,636 shares in the company, valued at approximately $5,189,679. The trade was a 28.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

IMNM has been the subject of a number of recent analyst reports. Stephens began coverage on shares of Immunome in a research note on Friday, November 8th. They issued an "overweight" rating and a $30.00 price objective for the company. Piper Sandler dropped their target price on Immunome from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. Finally, Wedbush reiterated an "outperform" rating and issued a $33.00 target price on shares of Immunome in a research note on Monday, January 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Immunome has an average rating of "Buy" and a consensus price target of $28.60.

Immunome Stock Performance

The stock has a 50 day moving average of $11.26 and a two-hundred day moving average of $12.65. The firm has a market capitalization of $678.51 million, a P/E ratio of -1.34 and a beta of 1.90.

Hedge Funds Weigh In On Immunome

A number of institutional investors have recently modified their holdings of IMNM. JPMorgan Chase & Co. grew its stake in Immunome by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company's stock valued at $359,000 after buying an additional 1,520 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Immunome by 34.6% during 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 during the period. Cerity Partners LLC grew its position in shares of Immunome by 10.5% in the third quarter. Cerity Partners LLC now owns 53,103 shares of the company's stock valued at $776,000 after purchasing an additional 5,043 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Immunome by 786,700.0% in the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company's stock worth $84,000 after purchasing an additional 7,867 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Immunome during the 4th quarter worth about $123,000. Institutional investors 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.