Immunome (NASDAQ:IMNM) Shares Gap Up Following Insider Buying Activity

Shares of Immunome, Inc. (NASDAQ:IMNM) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $9.82, but opened at $11.10. Immunome shares last traded at $11.18, with a volume of 336,877 shares changing hands.

Specifically, CTO Philip Tsai purchased 21,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of $9.43 per share, for a total transaction of $198,030.00. Following the purchase, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Lechleider acquired 15,805 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was bought at an average price of $9.48 per share, with a total value of $149,831.40. Following the purchase, the insider now directly owns 15,805 shares of the company’s stock, valued at $149,831.40. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, CEO Clay B. Siegall bought 66,057 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the transaction, the chief executive officer now owns 485,693 shares of the company’s stock, valued at approximately $4,633,511.22. This trade represents a 15.74 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IMNM shares. Stephens initiated coverage on Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Piper Sandler cut their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Wedbush reiterated an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Friday, October 25th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome presently has a consensus rating of “Buy” and a consensus target price of $28.83.

Immunome Price Performance

The firm has a market cap of $719.70 million, a PE ratio of -1.42 and a beta of 1.82. The company has a 50 day moving average price of $12.49 and a 200 day moving average price of $13.55.

Institutional Investors Weigh In On Immunome

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of Immunome in the second quarter valued at about $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Immunome in the second quarter valued at approximately $97,000. Arizona State Retirement System raised its holdings in shares of Immunome by 9.2% in the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares during the period. Intech Investment Management LLC purchased a new stake in Immunome during the third quarter worth approximately $219,000. Finally, AQR Capital Management LLC raised its holdings in shares of Immunome by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after buying an additional 4,129 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

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.