Immunome, Inc. (NASDAQ:IMNM) Short Interest Down 15.2% in October

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 10,920,000 shares, a decrease of 15.2% from the September 30th total of 12,880,000 shares. Based on an average trading volume of 649,500 shares, the short-interest ratio is currently 16.8 days. Currently, 22.3% of the shares of the stock are short sold.

Immunome Stock Performance

Immunome stock traded down $0.23 during mid-day trading on Tuesday, hitting $12.20. The company's stock had a trading volume of 381,013 shares, compared to its average volume of 766,090. The company has a 50 day moving average of $13.83 and a 200-day moving average of $14.10. Immunome has a one year low of $6.93 and a one year high of $30.96. The stock has a market cap of $732.66 million, a PE ratio of -1.59 and a beta of 1.76.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.49) EPS 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 during the quarter, compared to the consensus estimate of $2.62 million. On average, equities research analysts forecast that Immunome will post -1.92 EPS for the current fiscal year.

Insider Transactions at Immunome

In related news, insider Jack Higgins sold 3,524 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the transaction, the insider now directly owns 16,000 shares of the company's stock, valued at approximately $222,880. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jack Higgins sold 3,524 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the transaction, the insider now owns 16,000 shares of the company's stock, valued at approximately $222,880. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average price of $13.94 per share, with a total value of $97,580.00. Following the transaction, the director now owns 16,615 shares of the company's stock, valued at $231,613.10. This represents a 0.00 % 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

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Immunome in the second quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Immunome in the second quarter valued at approximately $97,000. Arizona State Retirement System raised its position in Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company's stock worth $131,000 after acquiring an additional 918 shares during the period. EntryPoint Capital LLC raised its position in shares of Immunome by 21,864.0% during the 1st 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 last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company's stock valued at $194,000 after acquiring an additional 4,129 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush reaffirmed an "outperform" rating and set a $33.00 price objective on shares of Immunome in a research note on Friday. Piper Sandler lowered their target price on shares of Immunome from $27.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $29.00.

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.