Immunome (NASDAQ:IMNM) Stock Price Down 6.7% – What’s Next?

Immunome, Inc. (NASDAQ:IMNM)’s share price traded down 6.7% on Tuesday . The company traded as low as $6.20 and last traded at $6.28. 737,205 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 876,257 shares. The stock had previously closed at $6.73.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Thursday, March 20th. Guggenheim decreased their price target on Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Immunome in a report on Thursday, March 20th. Finally, Lifesci Capital initiated coverage on Immunome in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, Immunome currently has an average rating of “Buy” and a consensus price target of $25.50.

Immunome Trading Down 7.0 %

The firm has a market capitalization of $544.31 million, a P/E ratio of -0.77 and a beta of 1.93. The stock has a 50-day simple moving average of $9.43 and a two-hundred day simple moving average of $11.23.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The firm had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.07 million. As a group, research analysts expect that Immunome, Inc. will post -2.21 EPS for the current year.

Insider Activity

In other Immunome news, CTO Philip Tsai bought 12,300 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the purchase, the chief technology officer now directly owns 33,300 shares in the company, valued at $280,386. This represents a 58.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $8.21 per share, with a total value of $57,470.00. Following the completion of the purchase, the director now owns 23,615 shares of the company’s stock, valued at $193,879.15. The trade was a 42.13 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 306,400 shares of company stock worth $2,322,995. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Several hedge funds have recently modified their holdings of IMNM. BNP Paribas Financial Markets acquired a new position in Immunome during the 4th quarter valued at approximately $70,000. KLP Kapitalforvaltning AS acquired a new position in shares of Immunome in the 4th quarter valued at $75,000. AlphaQuest LLC raised its stake in Immunome by 786,700.0% in the 4th quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock worth $84,000 after acquiring an additional 7,867 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock valued at $91,000 after purchasing an additional 7,129 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Immunome in the fourth quarter valued at about $95,000. Institutional investors and hedge funds 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.