Immunome (NASDAQ:IMNM) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Immunome (NASDAQ:IMNM) from a sell rating to a strong sell rating in a report released on Saturday morning.

Several other analysts have also issued reports on IMNM. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research note on Friday, July 17th. Wedbush increased their price target on Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Truist Financial increased their price target on Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Finally, HC Wainwright restated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Immunome Stock Up 0.7%

IMNM opened at $27.40 on Friday. Immunome has a twelve month low of $8.66 and a twelve month high of $28.62. The company’s 50-day moving average price is $22.37 and its two-hundred day moving average price is $22.23. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -10.83 and a beta of 2.07.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). As a group, sell-side analysts anticipate that Immunome will post -2.3 earnings per share for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, insider Robert Lechleider sold 55,000 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total transaction of $1,244,100.00. Following the sale, the insider owned 15,805 shares in the company, valued at $357,509.10. This represents a 77.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total value of $2,273,555.44. Following the completion of the transaction, the insider directly owned 50,366 shares of the company’s stock, valued at $1,263,682.94. The trade was a 64.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 682,310 shares of company stock valued at $15,675,566 in the last 90 days. 7.21% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in Immunome during the 2nd quarter valued at about $25,000. KBC Group NV bought a new stake in shares of Immunome during the first quarter valued at about $60,000. BNP Paribas Financial Markets lifted its holdings in shares of Immunome by 81.8% in the second 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 in the last quarter. Strs Ohio purchased a new stake in shares of Immunome in the fourth quarter worth about $64,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Immunome by 121.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after acquiring an additional 3,802 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.