Immunome (NASDAQ:IMNM) Hits New 12-Month High – Still a Buy?

Shares of Immunome, Inc. (NASDAQ:IMNM) hit a new 52-week high during trading on Monday . The company traded as high as $19.05 and last traded at $19.1150, with a volume of 267180 shares changing hands. The stock had previously closed at $18.53.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IMNM shares. Wedbush reiterated an “outperform” rating and issued a $21.00 price target on shares of Immunome in a research report on Friday, November 7th. Craig Hallum began coverage on Immunome in a research report on Friday, September 5th. They set a “buy” rating and a $26.00 target price on the stock. Guggenheim reissued a “buy” rating and set a $25.00 price target on shares of Immunome in a report on Monday, August 25th. Wall Street Zen upgraded Immunome from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.78.

Immunome Price Performance

The company has a market capitalization of $1.71 billion, a PE ratio of -6.32 and a beta of 1.96. The business has a 50-day moving average of $14.77 and a 200 day moving average of $11.30.

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

Institutional Investors Weigh In On Immunome

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC raised its stake in shares of Immunome by 19.1% during the 1st quarter. MetLife Investment Management LLC now owns 42,411 shares of the company’s stock worth $285,000 after acquiring an additional 6,792 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Immunome by 55.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 775,000 shares of the company’s stock worth $5,216,000 after purchasing an additional 275,000 shares in the last quarter. Exome Asset Management LLC purchased a new position in Immunome during the 1st quarter worth $1,776,000. Charles Schwab Investment Management Inc. raised its stake in Immunome by 34.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 614,387 shares of the company’s stock valued at $4,135,000 after buying an additional 157,135 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Immunome in the second quarter valued at about $793,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.