Immunome (NASDAQ:IMNM) Shares Gap Up - Time to Buy?

Immunome, Inc. (NASDAQ:IMNM - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $12.54, but opened at $13.26. Immunome shares last traded at $13.42, with a volume of 126,560 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on IMNM. Stephens began coverage on shares of Immunome in a research report on Friday. They set an "overweight" rating and a $30.00 price objective for the company. Piper Sandler cut their price objective on shares of Immunome from $27.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, August 13th. Finally, Wedbush restated an "outperform" rating and set a $33.00 price objective on shares of Immunome in a research report on Friday, October 25th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Immunome currently has a consensus rating of "Buy" and a consensus target price of $29.17.

Immunome Stock Up 3.5 %

The business's fifty day simple moving average is $13.43 and its two-hundred day simple moving average is $13.90. The company has a market cap of $779.50 million, a price-to-earnings ratio of -1.63 and a beta of 1.82.

Immunome (NASDAQ:IMNM - Get Free Report) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.11). Immunome had a negative return on equity of 38.19% and a negative net margin of 2,435.02%. The company had revenue of $2.36 million for the quarter, compared to analyst estimates of $2.62 million. Sell-side analysts predict that Immunome, Inc. will post -1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Immunome news, CFO Max Rosett sold 14,380 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction of $230,223.80. Following the sale, the chief financial officer now owns 47,476 shares of the company's stock, valued at approximately $760,090.76. This trade represents a 0.00 % decrease 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 link. In other Immunome news, insider Jack Higgins sold 3,524 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares of the company's stock, valued at approximately $222,880. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Max Rosett sold 14,380 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the completion of the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at approximately $760,090.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Immunome

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Immunome by 48.1% in the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company's stock worth $10,684,000 after acquiring an additional 237,497 shares during the period. Northeast Financial Consultants Inc purchased a new position in shares of Immunome during the 2nd quarter worth approximately $883,000. The Manufacturers Life Insurance Company boosted its stake in shares of Immunome by 52.2% in the second quarter. The Manufacturers Life Insurance Company now owns 166,928 shares of the company's stock valued at $2,020,000 after buying an additional 57,242 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company's stock valued at $194,000 after buying an additional 4,129 shares in the last quarter. Finally, AXA S.A. acquired a new position in Immunome during the second quarter worth $2,174,000. 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.