Immunome (NASDAQ:IMNM) Trading 5.4% Higher – Still a Buy?

Immunome, Inc. (NASDAQ:IMNM)’s stock price shot up 5.4% on Wednesday . The company traded as high as $12.35 and last traded at $12.15. 124,323 shares were traded during trading, a decline of 84% from the average session volume of 777,511 shares. The stock had previously closed at $11.53.

Analyst Upgrades and Downgrades

IMNM has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Stephens started coverage on Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Immunome in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $28.83.

Immunome Trading Up 12.9 %

The stock’s fifty day simple moving average is $12.49 and its 200 day simple moving average is $13.55. The company has a market cap of $812.71 million, a price-to-earnings ratio of -1.60 and a beta of 1.82.

Insider Buying and Selling

In other news, CFO Max Rosett sold 14,380 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total transaction of $230,223.80. Following the completion of the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at approximately $760,090.76. This represents a 23.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Clay B. Siegall purchased 66,057 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $9.54 per share, with a total value of $630,183.78. Following the completion of the acquisition, the chief executive officer now owns 485,693 shares in the company, valued at approximately $4,633,511.22. This trade represents a 15.74 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 102,862 shares of company stock worth $978,045. 8.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Immunome

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in Immunome by 0.3% during the 3rd quarter. FMR LLC now owns 4,224,700 shares of the company’s stock valued at $61,765,000 after acquiring an additional 13,757 shares during the period. Janus Henderson Group PLC boosted its holdings in Immunome by 10.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after acquiring an additional 324,614 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Immunome by 113.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after acquiring an additional 1,194,451 shares during the period. Vanguard Group Inc. boosted its holdings in Immunome by 16.1% during the 1st quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock valued at $49,847,000 after acquiring an additional 279,712 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after acquiring an additional 1,191,774 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.