Immunome (NASDAQ:IMNM) Shares Down 7% Following Analyst Downgrade

Immunome, Inc. (NASDAQ:IMNM - Get Free Report)'s stock price dropped 7% during trading on Thursday after Piper Sandler lowered their price target on the stock from $23.00 to $21.00. Piper Sandler currently has an overweight rating on the stock. Immunome traded as low as $10.72 and last traded at $10.78. Approximately 270,345 shares changed hands during trading, a decline of 64% from the average daily volume of 751,930 shares. The stock had previously closed at $11.59.

Several other research firms have also commented on IMNM. Wedbush reissued an "outperform" rating and set a $33.00 price objective on shares of Immunome in a research note on Friday, October 25th. Stephens started coverage on shares of Immunome in a research note on Friday, November 8th. They set an "overweight" rating and a $30.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $28.83.

Insider Transactions at Immunome

In other Immunome news, CFO Max Rosett sold 14,380 shares of the company'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 completion of the sale, the chief financial officer now directly owns 47,476 shares of the company's stock, valued at approximately $760,090.76. This represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime bought 7,000 shares of Immunome stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $13.94 per share, with a total value of $97,580.00. Following the completion of the acquisition, the director now owns 16,615 shares of the company's stock, valued at $231,613.10. The trade was a 72.80 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Immunome

Hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC boosted its position in shares of Immunome by 21,864.0% in the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company's stock worth $136,000 after purchasing an additional 5,466 shares during the period. Quest Partners LLC bought a new position in shares of Immunome in the second quarter worth approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Immunome in the second quarter worth approximately $97,000. Arizona State Retirement System boosted its position in shares of Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company's stock worth $131,000 after purchasing an additional 918 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Immunome in the third quarter worth approximately $219,000. 44.58% of the stock is currently owned by institutional investors.

Immunome Price Performance

The stock's 50-day moving average is $13.19 and its two-hundred day moving average is $13.82. The stock has a market cap of $668.96 million, a P/E ratio of -1.45 and a beta of 1.82.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results 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 the consensus estimate of $2.62 million. On average, analysts anticipate that Immunome, Inc. will post -1.92 EPS for the current fiscal year.

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.