Immunome (NASDAQ:IMNM) Sees Strong Trading Volume – Still a Buy?

Immunome, Inc. (NASDAQ:IMNM) saw unusually-high trading volume on Monday . Approximately 253,834 shares were traded during mid-day trading, a decline of 49% from the previous session’s volume of 502,314 shares.The stock last traded at $9.75 and had previously closed at $10.60.

Wall Street Analysts Forecast Growth

IMNM has been the topic of a number of recent research reports. Stephens initiated coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Friday, October 25th. Finally, Piper Sandler reduced their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $28.83.

Immunome Trading Down 7.9 %

The company has a market cap of $609.19 million, a PE ratio of -1.20 and a beta of 1.90. The business has a 50 day simple moving average of $11.77 and a two-hundred day simple moving average of $12.99.

Insider Buying and Selling

In other news, CTO Philip Tsai bought 21,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of $9.43 per share, with a total value of $198,030.00. Following the transaction, the chief technology officer now owns 21,000 shares of the company’s stock, valued at $198,030. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Lechleider bought 15,805 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the completion of the transaction, the insider now directly owns 15,805 shares in the company, valued at approximately $149,831.40. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 102,862 shares of company stock valued at $978,045. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IMNM. JPMorgan Chase & Co. increased its holdings in Immunome by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after purchasing an additional 1,520 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Immunome by 4.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 450,280 shares of the company’s stock valued at $6,583,000 after purchasing an additional 17,566 shares in the last quarter. Barclays PLC increased its holdings in Immunome by 125.9% in the 3rd quarter. Barclays PLC now owns 105,886 shares of the company’s stock valued at $1,547,000 after purchasing an additional 59,016 shares in the last quarter. Geode Capital Management LLC increased its holdings in Immunome by 13.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock valued at $17,657,000 after purchasing an additional 144,557 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Immunome in the 3rd quarter valued at $363,000. 44.58% of the stock is 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.