Immunome (NASDAQ:IMNM) Stock Gets Price Target Reduction from Stifel Nicolaus

Immunome (NASDAQ:IMNM) had its price objective dropped by equities researchers at Stifel Nicolaus from $24.00 to $23.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus‘s price objective points to a potential upside of 23.26% from the company’s previous close.

IMNM has been the subject of several other reports. Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Immunome in a report on Tuesday, October 27th. Truist Financial raised their target price on Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Immunome from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Alliance Global Partners started coverage on shares of Immunome in a report on Monday, September 21st. They set a “buy” rating and a $32.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating on shares of Immunome in a report on Tuesday, October 27th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.85.

Immunome Trading Down 3.6%

IMNM opened at $18.66 on Tuesday. The stock has a market capitalization of $2.12 billion, a P/E ratio of -7.35 and a beta of 2.68. Immunome has a 12-month low of $16.11 and a 12-month high of $30.06. The stock has a 50-day moving average price of $21.33 and a 200-day moving average price of $22.37.

Immunome (NASDAQ:IMNM) last issued its earnings results on Monday, November 9th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.15). On average, equities research analysts predict that Immunome will post -2.48 EPS for the current year.

Insider Buying and Selling at Immunome

In other news, insider Jack Higgins sold 13,200 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $25.32, for a total transaction of $334,224.00. Following the transaction, the insider owned 65,050 shares in the company, valued at $1,647,066. This represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $27.25, for a total transaction of $301,058.00. Following the sale, the director directly owned 92,211 shares in the company, valued at $2,512,749.75. This trade represents a 10.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.21% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Immunome in the third quarter valued at approximately $2,923,000. Russell Investments Group Ltd. boosted its position in Immunome by 213.6% during the third quarter. Russell Investments Group Ltd. now owns 93,946 shares of the company’s stock worth $2,021,000 after acquiring an additional 63,985 shares during the last quarter. Three Bridge Wealth Advisors LLC acquired a new position in shares of Immunome during the 3rd quarter worth approximately $164,000. Alps Advisors Inc. grew its holdings in Immunome by 31.5% in the 3rd quarter. Alps Advisors Inc. now owns 150,502 shares of the company’s stock valued at $3,237,000 after buying an additional 36,062 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Immunome by 840.0% in the 3rd quarter. Sterling Capital Management LLC now owns 3,478 shares of the company’s stock valued at $75,000 after purchasing an additional 3,108 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Immunome Company Profile

Immunome is a biotechnology company focused on discovering and developing therapies for cancer. It uses an antibody-discovery platform to identify targets and develop medicines intended to address areas of significant unmet medical need.

The company’s research and development programs include targeted cancer treatments, such as antibody-based therapies and other drug candidates. Its portfolio has included investigational medicines for solid tumors and other cancers; these products are in development and are not necessarily approved for commercial use.

Immunome became a publicly traded company in 2023 following a merger with Morphimmune and a combination with Ayala Pharmaceuticals.