Immunome, Inc. (NASDAQ:IMNM – Free Report) shares fell 2.9% on Wednesday after Piper Sandler cut the price target on the stock from $27.00 to $23.00. Piper Sandler currently has an Overweight rating on the stock. Immunome traded as low as $13.14 and was last at $13.14. During midday trading, 8,445 shares changed hands, a 99% decline from the average session volume of 812,423 shares. The stock had previously closed at $13.53.
Several other research firms have also commented on IMNM. JPMorgan Chase & Co. began coverage on Immunome shares in a research note on Tuesday, April 30th. They gave the stock an “overweight” rating and a $24.00 price target. Guggenheim began coverage on Immunome shares in a research report on Monday, April 15th. They gave the stock a “buy” rating and a $35.00 price target. Finally, Wedbush reiterated an “outperform” rating and provided a $33.00 price target on Immunome shares in a research note on Thursday, July 25th. Six analysts have rated the stock with a “buy” rating. According to data from MarketBeat, Immunome currently has an average rating of “buy” and an average price target of $29.00.
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Insider buying and selling at Immunome
In other Immunome news, Director Jean Jacques Bienaime bought 2,000 shares of the company’s stock on Tuesday, May 21. The shares were acquired at an average price of $13.57 per share, for a total transaction of $27,140.00. Following the completion of the purchase, the director now owns 9,615 shares of the company’s stock, valued at approximately $130,475.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.60% of the company’s stock.
Institutional investors comment on Immunome
Hedge funds and other institutional investors have recently made changes to their positions in the company. Avidity Partners Management LP bought a new position in shares of Immunome in the fourth quarter valued at $14,268,000. Price T Rowe Associates Inc. MD increased its position in shares of Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after buying an additional 1,194,451 shares in the last quarter. Marshall Wace LLP increased its stake in Immunome by 228.5% in the second 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. Redmile Group LLC increased its stake in Immunome by 26.0% in the first quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock valued at $120,674,000 after acquiring an additional 1,010,139 shares in the last quarter. Finally, Farallon Capital Management LLC bought a new position in Immunome shares in the first quarter valued at about $14,660,000. 44.58% of the shares are currently owned by institutional investors and hedge funds.
Price development of Immunome shares
The company has a market cap of $809.58 million, a P/E ratio of -1.79 and a beta of 1.78. The company’s 50-day moving average is $13.64 and its 200-day moving average is $17.54.
Immunome (NASDAQ:IMNM – Get Free Report) last announced its quarterly results on Tuesday, May 14. The company reported earnings per share (EPS) of -$0.34 for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.03 million during the quarter, compared to analyst expectations of $4.00 million. As a group, analysts expect Immunome, Inc. to report earnings per share of -$1.45 for the current fiscal year.
About Immunome
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Immunome, Inc., a biotechnology company, develops targeted cancer therapies. The Company’s clinical products include AL102, an experimental gamma-secretase inhibitor currently in a Phase 3 trial for the treatment of desmoid tumors; and its preclinical products consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, IM-3050, a fibroblast activation protein-targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.
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