Immunome (NASDAQ:IMNM) Receives Outperform Rating from Wedbush

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reissued by Wedbush in a report released on Friday,Benzinga reports. They currently have a $31.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 64.72% from the stock’s current price.

A number of other analysts have also issued reports on IMNM. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Immunome in a research report on Wednesday, May 13th. Barclays assumed coverage on Immunome in a research note on Thursday, May 28th. They set an “overweight” rating and a $36.00 price objective for the company. Leerink Partners dropped their price objective on Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Craig Hallum upped their target price on Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Truist Financial increased their target price on Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.

Immunome Stock Performance

Shares of IMNM stock traded up $0.46 on Friday, hitting $18.82. The stock had a trading volume of 184,808 shares, compared to its average volume of 1,347,450. The stock’s 50 day moving average is $21.85 and its 200-day moving average is $21.71. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -7.92 and a beta of 2.04. Immunome has a 52-week low of $7.96 and a 52-week high of $27.65.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.12. Equities analysts expect that Immunome will post -2.06 earnings per share for the current year.

Insider Activity at Immunome

In other Immunome news, CFO Max Rosett sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,424,800.00. Following the sale, the chief financial officer owned 54,037 shares in the company, valued at $1,184,491.04. This represents a 54.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Philip Wagenheim sold 36,800 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $20.47, for a total value of $753,296.00. Following the transaction, the director directly owned 369,347 shares in the company, valued at approximately $7,560,533.09. This represents a 9.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 139,438 shares of company stock worth $2,964,664. 7.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunome

Several institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in Immunome by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock worth $288,305,000 after purchasing an additional 5,003,824 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Immunome by 8,659.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock valued at $61,341,000 after purchasing an additional 2,823,144 shares during the last quarter. Primecap Management Co. CA increased its stake in Immunome by 55.2% during the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock valued at $100,643,000 after purchasing an additional 1,667,432 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Immunome during the fourth quarter worth $30,710,000. Finally, Sofinnova Investments Inc. lifted its position in shares of Immunome by 271.2% in the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock worth $34,765,000 after buying an additional 1,182,426 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Company Profile

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.