Immunome (NASDAQ:IMNM) Stock Price Down 6.7% - Here's Why

Immunome, Inc. (NASDAQ:IMNM - Get Free Report)'s stock price dropped 6.7% on Tuesday . The company traded as low as $6.20 and last traded at $6.28. Approximately 737,205 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 876,257 shares. The stock had previously closed at $6.73.

Analyst Ratings Changes

A number of research analysts recently issued reports on IMNM shares. Guggenheim decreased their price objective on shares of Immunome from $35.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Lifesci Capital initiated coverage on shares of Immunome in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price objective for the company. Stephens reiterated an "overweight" rating and set a $30.00 target price on shares of Immunome in a report on Thursday, March 20th. Wedbush restated an "outperform" rating and issued a $33.00 price target on shares of Immunome in a report on Thursday, March 20th. Finally, Lake Street Capital initiated coverage on Immunome in a report on Wednesday. They set a "buy" rating and a $23.00 price objective on the stock. Seven investment 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 target price of $25.14.

Immunome Trading Down 5.0 %

The company has a market capitalization of $515.62 million, a P/E ratio of -0.73 and a beta of 2.05. The firm's 50 day moving average price is $9.13 and its two-hundred day moving average price is $11.00.

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Immunome (NASDAQ:IMNM - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.07 million. Analysts anticipate that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Activity at Immunome

In other news, CTO Philip Tsai acquired 12,300 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $8.42 per share, for a total transaction of $103,566.00. Following the transaction, the chief technology officer now directly owns 33,300 shares of the company's stock, valued at approximately $280,386. This represents a 58.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clay B. Siegall bought 137,100 shares of the stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average cost of $7.29 per share, for a total transaction of $999,459.00. Following the completion of the acquisition, 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 quarter, insiders have purchased 306,400 shares of company stock valued at $2,322,995. 8.60% of the stock is owned by insiders.

Institutional Trading of Immunome

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Immunome by 217.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company's stock worth $6,469,000 after purchasing an additional 302,916 shares during 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 worth $17,657,000 after buying an additional 144,557 shares during the last quarter. Magnus Financial Group LLC boosted its stake in Immunome by 107.8% in the fourth quarter. Magnus Financial Group LLC now owns 53,536 shares of the company's stock valued at $569,000 after buying an additional 27,777 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Immunome by 22.2% in the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company's stock valued at $6,881,000 after buying an additional 85,580 shares in the last quarter. Finally, Barclays PLC grew its position in Immunome by 125.9% in the third quarter. Barclays PLC now owns 105,886 shares of the company's stock valued at $1,547,000 after acquiring an additional 59,016 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.