Immunome (NASDAQ:IMNM) Shares Gap Down – Here’s Why

Immunome, Inc. (NASDAQ:IMNM) gapped down prior to trading on Wednesday . The stock had previously closed at $23.48, but opened at $21.60. Immunome shares last traded at $21.3160, with a volume of 2,520,923 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IMNM shares. Evercore ISI raised their price target on Immunome from $18.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday. Guggenheim increased their price objective on Immunome from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday. Stephens lifted their target price on shares of Immunome from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Wall Street Zen raised shares of Immunome from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Leerink Partners set a $40.00 price target on shares of Immunome in a report on Monday. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Immunome has a consensus rating of “Moderate Buy” and a consensus target price of $30.09.

Immunome Trading Down 10.7%

The company’s fifty day moving average is $17.30 and its 200-day moving average is $12.49. The firm has a market capitalization of $1.92 billion, a P/E ratio of -7.14 and a beta of 2.17.

Immunome (NASDAQ:IMNM) last released its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Immunome had a negative return on equity of 76.50% and a negative net margin of 1,687.08%. On average, equities research analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Immunome by 37.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company’s stock worth $50,843,000 after buying an additional 2,054,640 shares during the last quarter. Redmile Group LLC raised its stake in Immunome by 11.0% during the 1st quarter. Redmile Group LLC now owns 5,361,187 shares of the company’s stock valued at $36,081,000 after purchasing an additional 533,161 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Immunome by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,893,626 shares of the company’s stock valued at $57,304,000 after purchasing an additional 368,674 shares during the period. EcoR1 Capital LLC increased its holdings in shares of Immunome by 5.2% during the 1st quarter. EcoR1 Capital LLC now owns 4,079,415 shares of the company’s stock worth $27,454,000 after purchasing an additional 200,000 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Immunome by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,860,580 shares of the company’s stock worth $17,305,000 after purchasing an additional 117,523 shares during the period. 44.58% of the stock is owned by 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.