Immunome (NASDAQ:IMNM) Shares Down 7.1% – Time to Sell?

Shares of Immunome, Inc. (NASDAQ:IMNM) fell 7.1% during trading on Thursday. The stock traded as low as $22.59 and last traded at $22.5150. 867,638 shares changed hands during trading, a decline of 36% from the average daily volume of 1,346,529 shares. The stock had previously closed at $24.24.

Analyst Ratings Changes

IMNM has been the subject of a number of research analyst reports. Citigroup restated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Wedbush lifted their target price on Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a research report on Friday, July 17th. Truist Financial increased their target price on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Immunome in a research note on Thursday, September 10th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Immunome currently has a consensus rating of “Moderate Buy” and an average target price of $35.18.

Immunome Stock Down 4.2%

The stock has a market cap of $2.43 billion, a P/E ratio of -8.46 and a beta of 2.13. The company’s 50 day moving average price is $25.45 and its 200-day moving average price is $22.85.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). Equities research analysts anticipate that Immunome, Inc. will post -2.38 earnings per share for the current year.

Insider Activity

In other news, insider Robert Lechleider sold 55,000 shares of Immunome 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 directly owned 15,805 shares in the company, valued at $357,509.10. The trade was a 77.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 dated Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the sale, the insider owned 50,366 shares of the company’s stock, valued at $1,263,682.94. This trade represents a 64.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 580,510 shares of company stock valued at $13,824,240 over the last quarter. 7.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Immunome

Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in Immunome during the 1st quarter valued at about $1,507,000. California State Teachers Retirement System boosted its position in shares of Immunome by 66.3% in the first quarter. California State Teachers Retirement System now owns 111,444 shares of the company’s stock valued at $2,437,000 after acquiring an additional 44,432 shares during the period. Bank of America Corp DE boosted its position in shares of Immunome by 285.6% in the first quarter. Bank of America Corp DE now owns 781,607 shares of the company’s stock valued at $17,094,000 after acquiring an additional 578,890 shares during the period. Edgestream Partners L.P. purchased a new position in Immunome during the first quarter valued at approximately $1,310,000. Finally, Deutsche Bank AG bought a new stake in Immunome during the 2nd quarter worth approximately $2,365,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Company Profile

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapies for cancer and other serious diseases. The company uses proprietary antibody discovery and engineering technologies designed to identify therapeutic candidates from human immune responses and advance them into clinical development.

Immunome’s activities include the development of novel immunotherapies and targeted biologic medicines, with research programs aimed at addressing significant unmet needs in oncology and inflammatory or immune-mediated diseases.