Piper Sandler Cuts Immunome (NASDAQ:IMNM) Price Target to $21.00

Immunome (NASDAQ:IMNM - Get Free Report) had its price target dropped by investment analysts at Piper Sandler from $23.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 88.51% from the stock's current price.

IMNM has been the subject of a number of other research reports. Stephens started coverage on shares of Immunome in a research note on Friday, November 8th. They issued an "overweight" rating and a $30.00 price target for the company. Wedbush reaffirmed an "outperform" rating and issued a $33.00 price objective on shares of Immunome in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome currently has a consensus rating of "Buy" and a consensus target price of $28.83.

Immunome Price Performance

NASDAQ IMNM traded down $0.45 during mid-day trading on Thursday, hitting $11.14. The company's stock had a trading volume of 1,199,621 shares, compared to its average volume of 756,134. Immunome has a 52-week low of $6.93 and a 52-week high of $30.96. The stock's fifty day simple moving average is $13.25 and its two-hundred day simple moving average is $13.84. The firm has a market capitalization of $668.96 million, a P/E ratio of -1.40 and a beta of 1.82.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.11). The firm had revenue of $2.36 million for the quarter, compared to analysts' expectations of $2.62 million. Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. On average, equities analysts forecast that Immunome will post -1.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Immunome news, CFO Max Rosett sold 14,380 shares of Immunome stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.01, for a total transaction of $230,223.80. Following the transaction, the chief financial officer now owns 47,476 shares of the company's stock, valued at $760,090.76. The trade was a 23.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Max Rosett sold 14,380 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 47,476 shares of the company's stock, valued at approximately $760,090.76. The trade was a 23.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $13.94 per share, with a total value of $97,580.00. Following the purchase, the director now owns 16,615 shares in the company, valued at $231,613.10. This represents a 72.80 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.60% of the company's stock.

Institutional Trading of Immunome

Large investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in shares of Immunome during the second quarter worth $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Immunome during the second quarter worth $97,000. 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 acquiring an additional 918 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in Immunome by 21,864.0% in the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company's stock valued at $136,000 after acquiring an additional 5,466 shares during the last quarter. Finally, 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 acquiring an additional 4,129 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

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.