Immunome's (IMNM) Outperform Rating Reiterated at Wedbush

Immunome (NASDAQ:IMNM - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They currently have a $33.00 price target on the stock. Wedbush's target price suggests a potential upside of 172.50% from the stock's previous close.

Separately, Piper Sandler lowered their target price on Immunome from $27.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, August 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome has a consensus rating of "Buy" and an average price target of $29.00.

Immunome Stock Performance

Immunome stock traded up $0.10 during mid-day trading on Friday, hitting $12.11. The company's stock had a trading volume of 501,530 shares, compared to its average volume of 770,252. The company has a 50 day moving average of $13.96 and a 200-day moving average of $14.36. The stock has a market cap of $726.22 million, a PE ratio of -1.63 and a beta of 1.76. Immunome has a one year low of $6.93 and a one year high of $30.96.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Monday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.36 million during the quarter, compared to analysts' expectations of $2.62 million. On average, equities research analysts forecast that Immunome will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jack Higgins sold 3,524 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares in the company, valued at $222,880. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Jack Higgins sold 3,524 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares in the company, valued at $222,880. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Max Rosett sold 14,380 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total value of $230,223.80. Following the sale, the chief financial officer now owns 47,476 shares of the company's stock, valued at $760,090.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Northeast Financial Consultants Inc acquired a new position in Immunome during the 2nd quarter valued at about $883,000. The Manufacturers Life Insurance Company increased its position in Immunome by 52.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 166,928 shares of the company's stock valued at $2,020,000 after buying an additional 57,242 shares in the last quarter. AQR Capital Management LLC increased its position in Immunome by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company's stock valued at $194,000 after buying an additional 4,129 shares in the last quarter. AXA S.A. acquired a new position in Immunome during the 2nd quarter valued at about $2,174,000. Finally, Marshall Wace LLP increased its position in Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company's stock valued at $20,731,000 after buying an additional 1,191,774 shares in the last quarter. 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.