Immunome (NASDAQ:IMNM) Price Target Lowered to $21.00 at Piper Sandler

Immunome (NASDAQ:IMNM) had its target price dropped by equities research analysts at Piper Sandler from $23.00 to $21.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 112.01% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Stephens assumed coverage on Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective for the company. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Immunome in a research note on Friday, October 25th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $28.83.

Immunome Price Performance

Shares of NASDAQ IMNM opened at $9.91 on Thursday. The company’s 50-day moving average is $13.12 and its 200 day moving average is $13.80. The stock has a market capitalization of $594.83 million, a P/E ratio of -1.22 and a beta of 1.82. Immunome has a 1 year low of $6.93 and a 1 year high of $30.96.

Insider Activity at Immunome

In other news, CFO Max Rosett sold 14,380 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the completion of the sale, the chief financial officer now owns 47,476 shares in the company, valued at approximately $760,090.76. This trade represents a 23.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Immunome

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of Immunome in the second quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Immunome during the 2nd quarter worth $97,000. Arizona State Retirement System increased its stake in shares of Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after buying an additional 918 shares during the period. EntryPoint Capital LLC raised its holdings in shares of Immunome by 21,864.0% in the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock valued at $136,000 after acquiring an additional 5,466 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after acquiring an additional 4,129 shares during the period. 44.58% of the stock is 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.