Immunome (NASDAQ:IMNM) Trading Down 6.7% - Should You Sell?

Immunome, Inc. (NASDAQ:IMNM - Get Free Report)'s stock price fell 6.7% during mid-day trading on Tuesday . The company traded as low as $10.35 and last traded at $10.47. 143,559 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,017,406 shares. The stock had previously closed at $11.22.

Analyst Ratings Changes

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

Immunome Price Performance

The company has a market capitalization of $829.71 million, a price-to-earnings ratio of -1.28 and a beta of 1.90. The stock has a 50 day simple moving average of $10.98 and a two-hundred day simple moving average of $12.49.

Insider Transactions at Immunome

In other Immunome news, CEO Clay B. Siegall bought 150,000 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the transaction, the chief executive officer now owns 669,636 shares in the company, valued at approximately $5,189,679. The trade was a 28.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Philip Tsai bought 21,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of $9.43 per share, for a total transaction of $198,030.00. Following the completion of the acquisition, the chief technology officer now directly owns 21,000 shares in the company, valued at approximately $198,030. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 252,862 shares of company stock worth $2,140,545. Corporate insiders own 8.60% of the company's stock.

Institutional Trading of Immunome

A number of large investors have recently bought and sold shares of the business. Aquatic Capital Management LLC acquired a new stake in Immunome during the 4th quarter worth $95,000. Adage Capital Partners GP L.L.C. raised its position in Immunome by 127.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company's stock worth $5,310,000 after buying an additional 280,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Immunome by 12.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,282,754 shares of the company's stock worth $24,243,000 after buying an additional 246,447 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock worth $91,000 after buying an additional 7,129 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in Immunome by 17.7% during the 4th quarter. MetLife Investment Management LLC now owns 35,619 shares of the company's stock worth $378,000 after buying an additional 5,354 shares during the last quarter. Institutional investors and hedge funds 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.