Guggenheim Has Lowered Expectations for Immunome (NASDAQ:IMNM) Stock Price

Immunome (NASDAQ:IMNM) had its price target decreased by research analysts at Guggenheim from $35.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 195.68% from the company’s previous close.

Other analysts also recently issued reports about the company. Lifesci Capital started coverage on Immunome in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 target price for the company. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a report on Monday, March 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunome has an average rating of “Buy” and an average target price of $25.50.

Immunome Stock Performance

Shares of IMNM stock opened at $8.46 on Thursday. The stock’s fifty day moving average is $9.84 and its two-hundred day moving average is $11.64. The firm has a market capitalization of $674.51 million, a P/E ratio of -1.04 and a beta of 1.93. Immunome has a fifty-two week low of $8.30 and a fifty-two week high of $26.70.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The business had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $3.07 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. On average, equities analysts forecast that Immunome will post -2.21 earnings per share for the current year.

Insider Buying and Selling at Immunome

In related news, CEO Clay B. Siegall acquired 150,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $7.75 per share, for a total transaction of $1,162,500.00. Following the acquisition, the chief executive officer now owns 669,636 shares in the company, valued at $5,189,679. The trade was a 28.87 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Immunome

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMNM. Charles Schwab Investment Management Inc. raised its holdings in shares of Immunome by 217.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock valued at $6,469,000 after buying an additional 302,916 shares during the period. Victory Capital Management Inc. increased its stake in Immunome by 48.1% during the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after purchasing an additional 237,497 shares during the period. Geode Capital Management LLC lifted its position in shares of Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after purchasing an additional 144,557 shares in the last quarter. Magnus Financial Group LLC boosted its stake in shares of Immunome by 107.8% in the fourth quarter. Magnus Financial Group LLC now owns 53,536 shares of the company’s stock valued at $569,000 after purchasing an additional 27,777 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Immunome by 22.2% in the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock valued at $6,881,000 after purchasing an additional 85,580 shares in the last quarter. Hedge funds and other 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.