Immunome (NASDAQ:IMNM) Shares Up 4.4% on Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s share price rose 4.4% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $7.68 and last traded at $7.40. Approximately 229,972 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 836,334 shares. The stock had previously closed at $7.09.

Specifically, CEO Clay B. Siegall purchased 137,100 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $7.29 per share, with a total value of $999,459.00. Following the completion of the transaction, the chief executive officer now directly owns 806,736 shares in the company, valued at $5,881,105.44. This trade represents a 20.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Philip Tsai purchased 12,300 shares of Immunome stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $8.42 per share, with a total value of $103,566.00. Following the completion of the acquisition, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. This trade represents a 58.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, Director Jean Jacques Bienaime purchased 7,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was purchased at an average price of $8.21 per share, with a total value of $57,470.00. Following the acquisition, the director now directly owns 23,615 shares in the company, valued at approximately $193,879.15. The trade was a 42.13 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IMNM. Lifesci Capital initiated coverage on Immunome in a report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 price objective on the stock. Guggenheim lowered their target price on Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Thursday, March 20th. Finally, Stephens reissued an “overweight” rating and set a $30.00 price target on shares of Immunome in a research note on Thursday, March 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $25.50.

Immunome Price Performance

The stock has a 50-day moving average of $9.61 and a 200-day moving average of $11.41. The firm has a market cap of $643.26 million, a price-to-earnings ratio of -0.92 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last issued its earnings results 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). Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. The company had revenue of $2.74 million during the quarter, compared to analysts’ expectations of $3.07 million. On average, equities analysts expect that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunome

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in Immunome in the fourth quarter valued at $70,000. KLP Kapitalforvaltning AS purchased a new stake in Immunome in the 4th quarter worth approximately $75,000. AlphaQuest LLC increased its holdings in Immunome by 786,700.0% in the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock valued at $84,000 after buying an additional 7,867 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock worth $91,000 after acquiring an additional 7,129 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of Immunome during the 4th quarter valued at approximately $95,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.