Immunome (NASDAQ:IMNM) Stock Price Up 7.2% - Time to Buy?

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) traded up 7.2% on Friday . The stock traded as high as $11.24 and last traded at $11.27. 690,704 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 869,716 shares. The stock had previously closed at $10.51.

Wall Street Analysts Forecast Growth

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

Immunome Stock Performance

The company's 50-day moving average price is $11.34 and its two-hundred day moving average price is $12.67. The stock has a market cap of $691.61 million, a PE ratio of -1.37 and a beta of 1.90.

Insiders Place Their Bets

In other news, CEO Clay B. Siegall acquired 66,057 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of $9.54 per share, with a total value of $630,183.78. Following the acquisition, the chief executive officer now owns 485,693 shares in the company, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Philip Tsai bought 21,000 shares of the business's stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $9.43 per share, with a total value of $198,030.00. Following the purchase, the chief technology officer now owns 21,000 shares of the company's stock, valued at $198,030. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 252,862 shares of company stock valued at $2,140,545 over the last 90 days. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Immunome

A number of hedge funds and other institutional investors have recently modified their holdings of IMNM. JPMorgan Chase & Co. grew its holdings in Immunome by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company's stock worth $359,000 after acquiring an additional 1,520 shares during the last quarter. AQR Capital Management LLC boosted its stake in Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company's stock worth $194,000 after acquiring an additional 4,129 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Immunome by 10.5% in the 3rd quarter. Cerity Partners LLC now owns 53,103 shares of the company's stock worth $776,000 after buying an additional 5,043 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of Immunome in the fourth quarter worth $123,000. Finally, Primecap Management Co. CA grew its position in Immunome by 4.5% during the 3rd quarter. Primecap Management Co. CA now owns 280,800 shares of the company's stock valued at $4,105,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors 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.