Immunome (NASDAQ:IMNM) Shares Gap Up After Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $10.32, but opened at $11.16. Immunome shares last traded at $10.87, with a volume of 472,104 shares.

Specifically, CEO Clay B. Siegall bought 150,000 shares of Immunome stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the acquisition, the chief executive officer now owns 669,636 shares of the company’s stock, valued at $5,189,679. The trade was a 28.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IMNM. Piper Sandler reduced their target price on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a report on Monday, January 13th. Finally, Stephens assumed coverage on Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $28.60.

Immunome Stock Up 4.0 %

The company has a 50 day moving average of $11.34 and a 200 day moving average of $12.68. The firm has a market cap of $670.08 million, a price-to-earnings ratio of -1.32 and a beta of 1.90.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IMNM. Stoneridge Investment Partners LLC acquired a new position in shares of Immunome in the fourth quarter worth about $123,000. AQR Capital Management LLC increased its holdings in Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after buying an additional 4,129 shares during the last quarter. Intech Investment Management LLC bought a new stake in Immunome in the third quarter valued at about $219,000. Three Bridge Wealth Advisors LLC bought a new position in shares of Immunome during the fourth quarter valued at approximately $293,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Immunome by 6.6% during the third 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 during the last quarter. Institutional investors and hedge funds 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.