Immunome (NASDAQ:IMNM) Trading 11.7% Higher – What’s Next?

Immunome, Inc. (NASDAQ:IMNM)’s stock price was up 11.7% during mid-day trading on Monday . The company traded as high as $11.25 and last traded at $12.14. Approximately 235,455 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 979,078 shares. The stock had previously closed at $10.87.

Analysts Set New Price Targets

Several brokerages recently commented on IMNM. Stephens started coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research report on Monday, January 13th. Finally, Piper Sandler decreased their price target on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome currently has an average rating of “Buy” and a consensus price target of $28.60.

Immunome Stock Performance

The stock has a 50 day simple moving average of $11.09 and a two-hundred day simple moving average of $12.52.

Insider Transactions at Immunome

In other news, CEO Clay B. Siegall purchased 150,000 shares of Immunome stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $7.75 per share, with a total value of $1,162,500.00. Following the transaction, the chief executive officer now owns 669,636 shares in the company, valued at $5,189,679. This represents a 28.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Lechleider acquired 15,805 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $9.48 per share, for a total transaction of $149,831.40. Following the completion of the acquisition, the insider now directly owns 15,805 shares of the company’s stock, valued at $149,831.40. The trade was a ? increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 252,862 shares of company stock worth $2,140,545 in the last quarter. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Immunome

A number of hedge funds and other institutional investors have recently modified their holdings of IMNM. KLP Kapitalforvaltning AS acquired a new position in Immunome during the fourth quarter worth $75,000. AlphaQuest LLC grew its stake in shares of Immunome by 786,700.0% in the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock valued at $84,000 after buying an additional 7,867 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in Immunome during the 4th quarter worth about $123,000. Teacher Retirement System of Texas acquired a new position in Immunome in the 4th quarter valued at about $124,000. Finally, AQR Capital Management LLC grew its position in Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after acquiring an additional 4,129 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Company Profile

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.