Immunome’s (IMNM) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Immunome (NASDAQ:IMNM) in a research note issued to investors on Tuesday,RTT News reports. The brokerage currently has a $21.00 price target on the stock, down from their prior price target of $33.00.

Other equities analysts have also recently issued reports about the stock. Guggenheim reduced their price objective on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Lake Street Capital assumed coverage on shares of Immunome in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $23.00 price target on the stock. Lifesci Capital started coverage on shares of Immunome in a report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price target on the stock. Finally, Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Immunome in a report on Thursday, March 20th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $23.33.

Immunome Stock Up 0.4%

Shares of NASDAQ IMNM opened at $8.00 on Tuesday. The business’s 50 day moving average price is $7.66 and its two-hundred day moving average price is $9.85. The company has a market cap of $696.10 million, a PE ratio of -0.99 and a beta of 2.00. Immunome has a twelve month low of $5.15 and a twelve month high of $16.81.

Immunome (NASDAQ:IMNM) last issued its earnings results on Monday, May 12th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14. The company had revenue of $2.93 million during the quarter, compared to the consensus estimate of $0.46 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. As a group, research analysts anticipate that Immunome will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Immunome news, CTO Philip Tsai purchased 12,300 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the completion of the transaction, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. This represents a 58.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Clay B. Siegall purchased 137,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average price of $7.29 per share, with a total value of $999,459.00. Following the completion of the purchase, the chief executive officer now owns 806,736 shares of the company’s stock, valued at $5,881,105.44. This trade represents a 20.47% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 156,400 shares of company stock valued at $1,160,495. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Immunome

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in shares of Immunome by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock worth $359,000 after purchasing an additional 1,520 shares in the last quarter. Magnus Financial Group LLC raised its stake in Immunome by 107.8% in the fourth quarter. Magnus Financial Group LLC now owns 53,536 shares of the company’s stock valued at $569,000 after purchasing an additional 27,777 shares in the last quarter. Scharf Investments LLC acquired a new stake in Immunome during the fourth quarter worth about $471,000. Stoneridge Investment Partners LLC bought a new position in Immunome in the 4th quarter valued at about $123,000. Finally, Three Bridge Wealth Advisors LLC acquired a new position in shares of Immunome in the 4th quarter valued at approximately $293,000. Institutional investors own 44.58% of the company’s stock.

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.