Immunome (NASDAQ:IMNM) Stock Price Up 4.4% – Time to Buy?

Shares of Immunome, Inc. (NASDAQ:IMNM) rose 4.4% on Wednesday . The stock traded as high as $6.50 and last traded at $6.54. Approximately 69,107 shares changed hands during trading, a decline of 92% from the average daily volume of 873,806 shares. The stock had previously closed at $6.26.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IMNM. Lifesci Capital started coverage on shares of Immunome in a report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price objective for the company. Guggenheim dropped their price target on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Stephens reaffirmed an “overweight” rating and set a $30.00 price target on shares of Immunome in a research report on Thursday, March 20th. Lake Street Capital started coverage on Immunome in a report on Wednesday. They set a “buy” rating and a $23.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research report on Thursday, March 20th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $25.14.

Immunome Price Performance

The firm has a market capitalization of $584.40 million, a price-to-earnings ratio of -0.83 and a beta of 1.93. The stock has a 50 day moving average price of $9.36 and a two-hundred day moving average price of $11.16.

Immunome (NASDAQ:IMNM) last released its earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The firm had revenue of $2.74 million during the quarter, compared to analyst estimates of $3.07 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. As a group, research analysts expect that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Transactions at Immunome

In other news, CTO Philip Tsai bought 12,300 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $8.42 per share, for a total transaction of $103,566.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clay B. Siegall purchased 150,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the purchase, the chief executive officer now owns 669,636 shares of the company’s stock, valued at $5,189,679. This represents a 28.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 306,400 shares of company stock valued at $2,322,995. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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