Immunome (NASDAQ:IMNM) Stock Price Up 4.4% - Should You Buy?

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) traded up 4.4% during mid-day trading on Wednesday . The stock traded as high as $6.50 and last traded at $6.54. 69,107 shares traded hands during trading, a decline of 92% from the average session volume of 873,806 shares. The stock had previously closed at $6.26.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IMNM. Stephens reaffirmed an "overweight" rating and set a $30.00 price objective on shares of Immunome in a research report on Thursday, March 20th. Lake Street Capital assumed coverage on shares of Immunome in a report on Wednesday, April 2nd. They set a "buy" rating and a $23.00 target price on the stock. Wedbush reiterated an "outperform" rating and issued a $33.00 price target on shares of Immunome in a research note on Thursday, March 20th. Guggenheim dropped their price objective on shares of Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, Lifesci Capital started coverage on shares of Immunome in a report on Tuesday, March 11th. They set an "outperform" rating and a $20.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $25.14.

Immunome Stock Performance

The stock has a fifty day moving average of $9.13 and a 200 day moving average of $10.96. The company has a market capitalization of $503.01 million, a P/E ratio of -0.71 and a beta of 2.05.

Remove Ads

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The firm had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.07 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. Research analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Philip Tsai purchased 12,300 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average cost of $8.42 per share, with a total value of $103,566.00. Following the completion of the purchase, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. This represents a 58.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clay B. Siegall purchased 137,100 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were purchased at an average price of $7.29 per share, with a total value of $999,459.00. Following the acquisition, the chief executive officer now directly owns 806,736 shares in the company, valued at $5,881,105.44. This represents a 20.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 306,400 shares of company stock worth $2,322,995. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Enavate Sciences GP LLC bought a new stake in shares of Immunome in the 4th quarter valued at approximately $36,939,000. Price T Rowe Associates Inc. MD lifted its position in shares of Immunome by 12.1% in 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 purchasing an additional 246,447 shares during the period. Geode Capital Management LLC boosted its position in Immunome by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,228,851 shares of the company's stock valued at $13,054,000 after acquiring an additional 21,396 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Immunome by 6.1% during the 4th quarter. Woodline Partners LP now owns 980,925 shares of the company's stock worth $10,417,000 after purchasing an additional 56,533 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Immunome by 46.3% during the fourth quarter. Point72 Asset Management L.P. now owns 688,790 shares of the company's stock valued at $7,315,000 after purchasing an additional 218,143 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Company Profile

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.