Immunome (NASDAQ:IMNM) Sees Unusually-High Trading Volume – Should You Buy?

Immunome, Inc. (NASDAQ:IMNM) shares saw unusually-strong trading volume on Thursday . Approximately 958,208 shares were traded during mid-day trading, an increase of 45% from the previous session’s volume of 660,083 shares.The stock last traded at $9.84 and had previously closed at $9.35.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IMNM. Piper Sandler cut their target price on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Monday, January 13th. Finally, Stephens initiated coverage on shares of Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome currently has a consensus rating of “Buy” and a consensus target price of $28.60.

Immunome Price Performance

The company has a market cap of $688.49 million, a price-to-earnings ratio of -1.36 and a beta of 1.90. The business has a 50 day simple moving average of $11.36 and a 200 day simple moving average of $12.73.

Insiders Place Their Bets

In other news, CEO Clay B. Siegall purchased 66,057 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the acquisition, the chief executive officer now directly owns 485,693 shares in the company, valued at approximately $4,633,511.22. The trade was a 15.74 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Lechleider acquired 15,805 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $9.48 per share, with a total value of $149,831.40. Following the completion of the acquisition, the insider now directly owns 15,805 shares in the company, valued at approximately $149,831.40. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 102,862 shares of company stock valued at $978,045 in the last 90 days. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IMNM. FMR LLC boosted its stake 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 during the last quarter. Janus Henderson Group PLC boosted its position in shares of Immunome by 10.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after purchasing an additional 324,614 shares during the last quarter. Geode Capital Management LLC grew its stake 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 during the period. Victory Capital Management Inc. increased its holdings in Immunome by 48.1% in the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after purchasing an additional 237,497 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in 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 buying an additional 85,580 shares during the period. Institutional investors 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.