Immunome (NASDAQ:IMNM) Shares Gap Up - Should You Buy?

Shares of Immunome, Inc. (NASDAQ:IMNM - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $10.11, but opened at $10.63. Immunome shares last traded at $10.73, with a volume of 118,600 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IMNM shares. Stephens initiated coverage on Immunome in a report on Friday, November 8th. They set an "overweight" rating and a $30.00 price objective for the company. Wedbush reiterated an "outperform" rating and issued a $33.00 price objective on shares of Immunome in a report on Monday. Finally, Piper Sandler decreased their target price on shares of Immunome from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $28.83.

Immunome Stock Up 1.3 %

The business has a fifty day moving average of $11.53 and a 200 day moving average of $12.92. The firm has a market cap of $623.58 million, a P/E ratio of -1.23 and a beta of 1.90.

Insider Transactions at Immunome

In other Immunome news, CTO Philip Tsai purchased 21,000 shares of the business's stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $9.43 per share, with a total value of $198,030.00. Following the acquisition, the chief technology officer now directly owns 21,000 shares of the company's stock, valued at $198,030. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Clay B. Siegall acquired 66,057 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was bought at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the acquisition, the chief executive officer now owns 485,693 shares of the company's stock, valued at approximately $4,633,511.22. The trade was a 15.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 102,862 shares of company stock worth $978,045. 8.60% of the stock is owned by company insiders.

Institutional Trading of Immunome

Several hedge funds have recently added to or reduced their stakes in IMNM. Charles Schwab Investment Management Inc. grew 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 valued at $6,469,000 after acquiring an additional 302,916 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Immunome by 13.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company's stock valued at $17,657,000 after acquiring an additional 144,557 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Immunome by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company's stock worth $10,684,000 after purchasing an additional 237,497 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in Immunome in the second quarter valued at about $1,379,000. Finally, Rhumbline Advisers acquired a new stake in Immunome during the second quarter worth about $813,000. 44.58% of the stock is owned by institutional investors and hedge funds.

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.