Truist Financial Upgrades Immunome (NASDAQ:IMNM) to Strong-Buy

Immunome (NASDAQ:IMNM) was upgraded by equities researchers at Truist Financial to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on IMNM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a research note on Tuesday, April 21st. HC Wainwright started coverage on shares of Immunome in a research note on Thursday, February 12th. They set a “buy” rating and a $40.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $31.00 target price on shares of Immunome in a research note on Thursday, January 15th. Stephens reduced their price target on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Finally, Wall Street Zen downgraded shares of Immunome from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.45.

Immunome Price Performance

Shares of IMNM stock opened at $23.33 on Monday. The firm’s 50-day moving average is $21.88 and its two-hundred day moving average is $20.82. Immunome has a 12 month low of $7.15 and a 12 month high of $27.65. The company has a market capitalization of $2.64 billion, a PE ratio of -9.64 and a beta of 2.11.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.10). Sell-side analysts forecast that Immunome will post -2.5 EPS for the current year.

Insider Buying and Selling

In related news, CFO Max Rosett sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,424,800.00. Following the sale, the chief financial officer directly owned 54,037 shares of the company’s stock, valued at $1,184,491.04. This represents a 54.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Philip Wagenheim sold 28,200 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $20.65, for a total transaction of $582,330.00. Following the sale, the director directly owned 341,147 shares in the company, valued at approximately $7,044,685.55. The trade was a 7.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 139,438 shares of company stock valued at $2,964,664 in the last ninety days. Company insiders own 7.21% of the company’s stock.

Institutional Investors Weigh In On Immunome

Large investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Immunome during the 4th quarter worth approximately $64,000. Assetmark Inc. purchased a new stake in Immunome during the 3rd quarter worth approximately $39,000. Aster Capital Management DIFC Ltd purchased a new stake in Immunome during the 4th quarter worth approximately $121,000. BIT Capital GmbH purchased a new stake in Immunome during the 3rd quarter worth approximately $69,000. Finally, BNP Paribas Financial Markets increased its stake in Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after buying an additional 2,909 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.