Immunome (NASDAQ:IMNM) Trading Down 7.1% – Time to Sell?

Shares of Immunome, Inc. (NASDAQ:IMNM) traded down 7.1% during mid-day trading on Tuesday . The company traded as low as $9.24 and last traded at $9.33. 383,331 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 602,353 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IMNM. Piper Sandler reduced their target price on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Stephens initiated coverage on Immunome in a report on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Monday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $28.83.

Immunome Price Performance

The company has a 50 day simple moving average of $11.72 and a 200-day simple moving average of $12.98. The firm has a market cap of $582.97 million, a PE ratio of -1.15 and a beta of 1.90.

Insider Activity at Immunome

In other news, CEO Clay B. Siegall bought 66,057 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Lechleider purchased 15,805 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of $9.48 per share, for a total transaction of $149,831.40. Following the acquisition, the insider now owns 15,805 shares in the company, valued at $149,831.40. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 102,862 shares of company stock valued at $978,045. Insiders own 8.60% of the company’s stock.

Institutional Trading of Immunome

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in shares of Immunome during the 2nd quarter valued at about $1,816,000. Rhumbline Advisers bought a new stake in Immunome during the 2nd quarter valued at approximately $813,000. Victory Capital Management Inc. grew its holdings in shares of Immunome by 39.0% during the 2nd quarter. Victory Capital Management Inc. now owns 493,288 shares of the company’s stock worth $5,969,000 after acquiring an additional 138,526 shares during the period. Arizona State Retirement System raised its position in shares of Immunome by 9.2% in the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after acquiring an additional 918 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Immunome in the 2nd quarter worth approximately $81,000. 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.