Immunome (NASDAQ:IMNM) Shares Down 5.2%

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) shares were down 5.2% on Tuesday . The stock traded as low as $11.50 and last traded at $11.57. Approximately 253,007 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 857,751 shares. The stock had previously closed at $12.20.

Wall Street Analysts Forecast Growth

IMNM has been the topic of a number of analyst reports. Piper Sandler initiated coverage on shares of Immunome in a report on Friday, May 31st. They set an "overweight" rating and a $27.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and set a $33.00 target price on shares of Immunome in a report on Tuesday, May 14th. JPMorgan Chase & Co. initiated coverage on shares of Immunome in a report on Tuesday, April 30th. They issued an "overweight" rating and a $24.00 price target for the company. Finally, Guggenheim assumed coverage on shares of Immunome in a report on Monday, April 15th. They issued a "buy" rating and a $35.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $29.80.

Immunome Stock Performance

The firm has a market cap of $701.64 million, a PE ratio of -1.54 and a beta of 1.85. The stock's 50 day simple moving average is $14.29 and its 200 day simple moving average is $17.17.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.46. Immunome had a negative return on equity of 37.33% and a negative net margin of 1,829.44%. The business had revenue of $1.03 million during the quarter, compared to analyst estimates of $4.00 million. As a group, analysts anticipate that Immunome, Inc. will post -1.45 earnings per share for the current year.

Insider Transactions at Immunome

In related news, Director Jean Jacques Bienaime bought 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average cost of $13.57 per share, for a total transaction of $27,140.00. Following the acquisition, the director now directly owns 9,615 shares of the company's stock, valued at approximately $130,475.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Immunome

Institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in shares of Immunome during the fourth quarter worth about $656,000. Emfo LLC purchased a new stake in Immunome in the 4th quarter worth approximately $633,000. Jump Financial LLC bought a new stake in shares of Immunome in the 4th quarter worth approximately $172,000. Mayo Clinic purchased a new position in shares of Immunome during the fourth quarter valued at approximately $1,161,000. Finally, Avidity Partners Management LP bought a new position in shares of Immunome during the fourth quarter valued at approximately $14,268,000. Hedge funds and other 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.