Immunome, Inc. (NASDAQ:IMNM) Sees Significant Growth in Short Interest

Immunome, Inc. (NASDAQ:IMNM) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 13,290,000 shares, a growth of 5.9% from the August 15th total of 12,550,000 shares. Currently, 27.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 803,700 shares, the short-interest ratio is presently 16.5 days.

Wall Street Analysts Forecast Growth

IMNM has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Wedbush reissued an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $29.00.

Insider Activity at Immunome

In related news, insider Jack Higgins sold 3,524 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the transaction, the insider now owns 16,000 shares in the company, valued at approximately $222,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Immunome news, insider Jack Higgins sold 3,524 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares of the company’s stock, valued at approximately $222,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $13.94 per share, with a total value of $97,580.00. Following the completion of the acquisition, the director now directly owns 16,615 shares in the company, valued at approximately $231,613.10. The disclosure for this purchase can be found here. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Immunome

A number of hedge funds have recently made changes to their positions in the stock. Redmile Group LLC lifted its position in shares of Immunome by 26.0% in the first quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock worth $120,674,000 after purchasing an additional 1,010,139 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Immunome by 113.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after purchasing an additional 1,194,451 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Immunome by 16.1% in the first quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock worth $49,847,000 after purchasing an additional 279,712 shares in the last quarter. Marshall Wace LLP increased its holdings in Immunome by 228.5% in the second quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after buying an additional 1,191,774 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Immunome by 10.6% in the first quarter. Janus Henderson Group PLC now owns 1,538,414 shares of the company’s stock worth $37,957,000 after buying an additional 146,943 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Trading Down 2.5 %

IMNM stock traded down $0.39 during mid-day trading on Tuesday, reaching $15.40. 1,297,441 shares of the stock traded hands, compared to its average volume of 772,550. Immunome has a 52-week low of $6.65 and a 52-week high of $30.96. The company has a market cap of $923.52 million, a P/E ratio of -2.04 and a beta of 1.77. The stock’s fifty day moving average is $14.34 and its 200-day moving average is $16.32.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data 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 net margin of 2,435.02% and a negative return on equity of 38.19%. The firm had revenue of $2.36 million for the quarter, compared to analysts’ expectations of $2.62 million. Equities research analysts expect that Immunome will post -1.92 earnings per share for the current year.

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.