Immunome (NASDAQ:IMNM) Trading Down 2.9% Following Analyst Downgrade

Shares of Immunome, Inc. (NASDAQ:IMNM) traded down 2.9% during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $27.00 to $23.00. Piper Sandler currently has an overweight rating on the stock. Immunome traded as low as $13.14 and last traded at $13.14. 8,445 shares changed hands during trading, a decline of 99% from the average session volume of 812,423 shares. The stock had previously closed at $13.53.

Several other analysts have also recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Immunome in a report on Thursday, July 25th. JPMorgan Chase & Co. assumed coverage on Immunome in a report on Tuesday, April 30th. They set an “overweight” rating and a $24.00 target price for the company. Finally, Guggenheim initiated coverage on shares of Immunome in a research note on Monday, April 15th. They issued a “buy” rating and a $35.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $29.00.

Insider Activity at Immunome

In related news, Director Jean Jacques Bienaime purchased 2,000 shares of Immunome stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $13.57 per share, for a total transaction of $27,140.00. Following the purchase, the director now owns 9,615 shares in the company, valued at approximately $130,475.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunome

A number of hedge funds have recently made changes to their positions in IMNM. EntryPoint Capital LLC boosted its position in Immunome by 21,864.0% during the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock worth $136,000 after buying an additional 5,466 shares during the period. Quest Partners LLC acquired a new stake in Immunome during the 2nd quarter worth approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Immunome during the 2nd quarter worth approximately $97,000. Arizona State Retirement System boosted its position in Immunome by 9.2% during the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after buying an additional 918 shares during the period. Finally, Jump Financial LLC acquired a new stake in Immunome during the 4th quarter worth approximately $172,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Trading Down 2.7 %

The firm’s 50-day moving average is $13.68 and its 200 day moving average is $17.57. The firm has a market capitalization of $789.79 million, a price-to-earnings ratio of -1.79 and a beta of 1.78.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share (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 during the quarter, compared to analyst estimates of $4.00 million. Analysts predict that Immunome, Inc. will post -1.45 EPS for the current year.

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.