Immunome (NASDAQ:IMNM) Stock Price Down 5.2%

Immunome, Inc. (NASDAQ:IMNM) was down 5.2% during mid-day trading on Tuesday . The stock traded as low as $11.50 and last traded at $11.57. Approximately 253,007 shares changed hands during trading, a decline of 71% from the average daily volume of 857,751 shares. The stock had previously closed at $12.20.

Wall Street Analyst Weigh In

Several research firms have weighed in on IMNM. Guggenheim began coverage on shares of Immunome in a report on Monday, April 15th. They issued a “buy” rating and a $35.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a report on Tuesday, May 14th. Piper Sandler began coverage on shares of Immunome in a report on Friday, May 31st. They issued an “overweight” rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Immunome in a report on Tuesday, April 30th. They issued an “overweight” rating and a $24.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $29.80.

Immunome Trading Down 4.8 %

The firm’s fifty day moving average price is $14.29 and its 200 day moving average price is $17.17. The stock has a market capitalization of $696.24 million, a price-to-earnings ratio of -1.52 and a beta of 1.85.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.46. Immunome had a negative net margin of 1,829.44% and a negative return on equity of 37.33%. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $4.00 million. On average, analysts forecast that Immunome, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Immunome

In other Immunome news, Director Jean Jacques Bienaime bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of $13.57 per share, with a total value of $27,140.00. Following the purchase, the director now directly owns 9,615 shares in the company, valued at $130,475.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

Several large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new stake in shares of Immunome in the 4th quarter valued at approximately $656,000. Emfo LLC purchased a new position in shares of Immunome in the 4th quarter valued at $633,000. Jump Financial LLC purchased a new position in shares of Immunome in the 4th quarter valued at $172,000. Mayo Clinic purchased a new position in shares of Immunome in the 4th quarter valued at $1,161,000. Finally, Avidity Partners Management LP purchased a new position in shares of Immunome in the 4th quarter valued at $14,268,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.