Insider Selling: Immunome (NASDAQ:IMNM) Director Sells $409,125.20 in Stock

Immunome, Inc. (NASDAQ:IMNM) Director Isaac Barchas sold 16,906 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $24.20, for a total value of $409,125.20. Following the completion of the transaction, the director owned 108,504 shares in the company, valued at approximately $2,625,796.80. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Isaac Barchas also recently made the following trade(s):

• On Monday, July 6th, Isaac Barchas sold 83,094 shares of Immunome stock. The shares were sold at an average price of $24.11, for a total transaction of $2,003,396.34.
• On Thursday, July 2nd, Isaac Barchas sold 100,000 shares of Immunome stock. The shares were sold at an average price of $22.59, for a total transaction of $2,259,000.00.
• On Tuesday, June 30th, Isaac Barchas sold 101,050 shares of Immunome stock. The stock was sold at an average price of $21.12, for a total transaction of $2,134,176.00.

Immunome Trading Up 0.6%

Immunome stock opened at $24.16 on Friday. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -10.15 and a beta of 2.07. The firm’s fifty day moving average price is $21.01 and its two-hundred day moving average price is $21.87. Immunome, Inc. has a 1-year low of $7.96 and a 1-year high of $27.65.

Immunome (NASDAQ:IMNM) last posted its earnings results on Tuesday, May 12th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.12. On average, research analysts forecast that Immunome, Inc. will post -2.06 EPS for the current year.

Institutional Investors Weigh In On Immunome

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Immunome by 285.6% in the 1st quarter. Bank of America Corp DE now owns 781,607 shares of the company’s stock worth $17,094,000 after buying an additional 578,890 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Immunome during the first quarter valued at approximately $1,310,000. California State Teachers Retirement System lifted its holdings in Immunome by 66.3% during the first quarter. California State Teachers Retirement System now owns 111,444 shares of the company’s stock worth $2,437,000 after acquiring an additional 44,432 shares during the period. Quantinno Capital Management LP bought a new stake in Immunome during the first quarter worth $222,000. Finally, Aristotle Atlantic Partners LLC purchased a new position in Immunome in the first quarter worth $2,734,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on IMNM shares. Leerink Partners decreased their price objective on Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 15th. HC Wainwright restated a “buy” rating on shares of Immunome in a report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $31.00 target price on shares of Immunome in a research report on Friday, June 12th. Citigroup reiterated a “buy” rating on shares of Immunome in a report on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research report on Tuesday, April 21st. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Immunome currently has an average rating of “Moderate Buy” and an average target price of $33.17.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.