Immunome (NASDAQ:IMNM) Reaches New 1-Year High on Analyst Upgrade

Immunome, Inc. (NASDAQ:IMNM)’s stock price reached a new 52-week high on Tuesday after Stephens raised their price target on the stock from $25.00 to $33.00. Stephens currently has an overweight rating on the stock. Immunome traded as high as $18.79 and last traded at $18.13, with a volume of 1680551 shares changing hands. The stock had previously closed at $17.14.

A number of other brokerages also recently issued reports on IMNM. Evercore ISI began coverage on shares of Immunome in a report on Friday, August 22nd. They issued an “outperform” rating and a $18.00 price target for the company. The Goldman Sachs Group began coverage on shares of Immunome in a research report on Monday, September 22nd. They set a “buy” rating and a $26.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $21.00 price target on shares of Immunome in a research report on Friday, November 7th. Wall Street Zen lowered Immunome from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Craig Hallum initiated coverage on Immunome in a research note on Friday, September 5th. They issued a “buy” rating and a $26.00 price objective for the company. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Immunome currently has an average rating of “Moderate Buy” and an average target price of $23.78.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMNM. Bank of New York Mellon Corp boosted its stake in shares of Immunome by 56.8% during the 1st quarter. Bank of New York Mellon Corp now owns 193,147 shares of the company’s stock worth $1,300,000 after purchasing an additional 69,944 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Immunome by 66.2% during the first quarter. Arizona State Retirement System now owns 18,764 shares of the company’s stock valued at $126,000 after buying an additional 7,476 shares during the period. KLP Kapitalforvaltning AS boosted its position in Immunome by 140.8% during the first quarter. KLP Kapitalforvaltning AS now owns 17,100 shares of the company’s stock worth $115,000 after acquiring an additional 10,000 shares during the last quarter. Readystate Asset Management LP purchased a new stake in Immunome in the 1st quarter worth approximately $1,509,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Immunome in the 1st quarter valued at $95,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Stock Performance

The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.00 and a beta of 1.96. The company has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $10.98.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.50%. As a group, analysts expect that Immunome, Inc. will post -2.21 EPS for the current year.

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.