Immunome (NASDAQ:IMNM) Stock Price Down 7.1% - Here's Why

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares fell 7.1% during mid-day trading on Tuesday . The company traded as low as $9.24 and last traded at $9.33. 383,331 shares traded hands during trading, a decline of 36% from the average session volume of 602,353 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IMNM. Wedbush restated an "outperform" rating and set a $33.00 price objective on shares of Immunome in a report on Monday. Stephens began coverage on Immunome in a report on Friday, November 8th. They set an "overweight" rating and a $30.00 price objective for the company. Finally, Piper Sandler dropped their price objective on Immunome from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $28.83.

Immunome Stock Down 6.6 %

The firm has a market cap of $585.47 million, a PE ratio of -1.16 and a beta of 1.90. The firm has a 50-day moving average price of $11.72 and a two-hundred day moving average price of $12.98.

Insider Activity at Immunome

In other Immunome news, CEO Clay B. Siegall bought 66,057 shares of the business's stock in a transaction on Thursday, November 21st. The stock was bought at an average price of $9.54 per share, with a total value of $630,183.78. Following the completion of the purchase, the chief executive officer now directly owns 485,693 shares in the company, valued at $4,633,511.22. The trade was a 15.74 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Lechleider bought 15,805 shares of the business's stock in a transaction on Thursday, November 21st. The shares were acquired at an average cost of $9.48 per share, with a total value of $149,831.40. Following the purchase, the insider now owns 15,805 shares of the company's stock, valued at $149,831.40. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 102,862 shares of company stock valued at $978,045. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunome

A number of institutional investors have recently modified their holdings of IMNM. Quest Partners LLC purchased a new position in Immunome in the second quarter valued at $81,000. Arizona State Retirement System boosted its holdings in Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company's stock valued at $131,000 after purchasing an additional 918 shares during the period. AQR Capital Management LLC boosted its holdings in Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company's stock valued at $194,000 after purchasing an additional 4,129 shares during the period. Intech Investment Management LLC purchased a new position in Immunome in the third quarter valued at $219,000. Finally, Profund Advisors LLC purchased a new position in Immunome in the second quarter valued at $262,000. 44.58% of the stock is owned by institutional investors and hedge funds.

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.