Immunome (NASDAQ:IMNM) Sets New 1-Year Low – Here’s What Happened

Shares of Immunome, Inc. (NASDAQ:IMNM) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $6.41 and last traded at $6.58, with a volume of 94321 shares traded. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

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

Immunome Stock Performance

The stock has a market capitalization of $569.53 million, a PE ratio of -0.81 and a beta of 1.93. The company’s fifty day simple moving average is $9.50 and its two-hundred day simple moving average is $11.28.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $3.07 million. Sell-side analysts forecast that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Insider Transactions at Immunome

In other news, CTO Philip Tsai purchased 12,300 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the completion of the acquisition, the chief technology officer now directly owns 33,300 shares in the company, valued at $280,386. This represents a 58.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clay B. Siegall purchased 137,100 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of $7.29 per share, with a total value of $999,459.00. Following the completion of the acquisition, the chief executive officer now directly owns 806,736 shares in the company, valued at $5,881,105.44. The trade was a 20.47 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 306,400 shares of company stock valued at $2,322,995 over the last three months. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunome

Several institutional investors have recently added to or reduced their stakes in IMNM. Intech Investment Management LLC purchased a new stake in Immunome in the third quarter valued at approximately $219,000. Charles Schwab Investment Management Inc. increased its position in shares of Immunome by 217.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock worth $6,469,000 after acquiring an additional 302,916 shares during the last quarter. Cerity Partners LLC raised its position in shares of Immunome by 10.5% in the 3rd quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock valued at $776,000 after purchasing an additional 5,043 shares in the last quarter. FMR LLC raised its holdings in Immunome by 0.3% in the third quarter. FMR LLC now owns 4,224,700 shares of the company’s stock valued at $61,765,000 after acquiring an additional 13,757 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Immunome by 129.1% during the third quarter. MetLife Investment Management LLC now owns 30,265 shares of the company’s stock worth $442,000 after purchasing an additional 17,053 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.