Short Interest in Immunome, Inc. (NASDAQ:IMNM) Rises By 12.2%

Immunome, Inc. (NASDAQ:IMNM - Get Free Report) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 9,870,000 shares, an increase of 12.2% from the December 31st total of 8,800,000 shares. Currently, 19.2% of the shares of the stock are sold short. Based on an average daily volume of 787,000 shares, the short-interest ratio is presently 12.5 days.

Insider Activity at Immunome

In related news, CEO Clay B. Siegall purchased 66,057 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the acquisition, the chief executive officer now owns 485,693 shares of the company's stock, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Philip Tsai purchased 21,000 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of $9.43 per share, with a total value of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares in the company, valued at $198,030. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 252,862 shares of company stock valued at $2,140,545 in the last quarter. Insiders own 8.60% of the company's stock.

Institutional Investors Weigh In On Immunome

Several large investors have recently modified their holdings of IMNM. JPMorgan Chase & Co. lifted its holdings in Immunome by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company's stock valued at $359,000 after buying an additional 1,520 shares during the period. AQR Capital Management LLC lifted its stake in shares of Immunome by 34.6% in the 2nd 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. Cerity Partners LLC boosted its position in shares of Immunome by 10.5% during the 3rd quarter. Cerity Partners LLC now owns 53,103 shares of the company's stock valued at $776,000 after purchasing an additional 5,043 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Immunome by 786,700.0% during the 4th quarter. AlphaQuest LLC now owns 7,868 shares of the company's stock valued at $84,000 after purchasing an additional 7,867 shares in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in Immunome during the fourth quarter worth approximately $123,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Trading Down 4.9 %

NASDAQ:IMNM traded down $0.56 on Friday, reaching $10.87. 867,173 shares of the stock traded hands, compared to its average volume of 1,011,016. Immunome has a 1-year low of $8.97 and a 1-year high of $30.96. The company's 50 day moving average is $11.26 and its 200-day moving average is $12.65. The firm has a market capitalization of $678.51 million, a price-to-earnings ratio of -1.34 and a beta of 1.90.

Wall Street Analyst Weigh In

IMNM has been the subject of several recent research reports. Piper Sandler lowered their price objective on Immunome from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Stephens started coverage on shares of Immunome in a research report on Friday, November 8th. They issued an "overweight" rating and a $30.00 price target for the company. Finally, Wedbush reiterated an "outperform" rating and set a $33.00 price target on shares of Immunome in a report on Monday, January 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $28.60.

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.