Immunome’s (IMNM) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Immunome (NASDAQ:IMNM) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $33.00 target price on the stock.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Immunome in a research report on Tuesday, April 30th. They set an overweight rating and a $24.00 price objective on the stock. Guggenheim began coverage on shares of Immunome in a research report on Monday, April 15th. They issued a buy rating and a $35.00 price objective on the stock. Finally, Piper Sandler decreased their price objective on shares of Immunome from $27.00 to $23.00 and set an overweight rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome presently has an average rating of Buy and an average target price of $29.00.

Immunome Price Performance

Shares of NASDAQ IMNM opened at $13.53 on Tuesday. Immunome has a 1-year low of $6.13 and a 1-year high of $30.96. The business’s 50 day moving average is $13.68 and its two-hundred day moving average is $17.57. The stock has a market capitalization of $811.38 million, a P/E ratio of -1.79 and a beta of 1.78.

Immunome (NASDAQ:IMNM) last announced its earnings results on Monday, August 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.11). Immunome had a negative return on equity of 37.33% and a negative net margin of 1,829.44%. The company had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $2.62 million. As a group, equities research analysts anticipate that Immunome will post -1.45 earnings per share for the current fiscal year.

Insider Activity at Immunome

In related news, Director Jean Jacques Bienaime bought 2,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $13.57 per share, for a total transaction of $27,140.00. Following the purchase, the director now directly owns 9,615 shares of the company’s stock, valued at $130,475.55. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC bought a new stake in Immunome during the 4th quarter valued at $656,000. Jump Financial LLC purchased a new position in shares of Immunome during the fourth quarter valued at $172,000. Mayo Clinic bought a new stake in shares of Immunome in the fourth quarter valued at about $1,161,000. Avidity Partners Management LP purchased a new stake in Immunome in the fourth quarter worth about $14,268,000. Finally, Clear Creek Financial Management LLC purchased a new stake in Immunome in the first quarter worth about $547,000. Institutional investors own 44.58% of the company’s stock.

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.