Immunome (NASDAQ:IMNM) Reaches New 52-Week Low After Earnings Miss

Immunome, Inc. (NASDAQ:IMNM)’s share price reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $8.30 and last traded at $8.46, with a volume of 23224 shares changing hands. The stock had previously closed at $8.36.

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 net margin of 3,014.59% and a negative return on equity of 48.63%. The business had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.07 million.

Analysts Set New Price Targets

A number of research firms have recently commented on IMNM. Wedbush reissued an “outperform” rating and issued a $33.00 target price on shares of Immunome in a report on Thursday. Lifesci Capital began coverage on shares of Immunome in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price objective for the company. 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 note on Thursday. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 price target on shares of Immunome in a research note on Thursday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome currently has an average rating of “Buy” and a consensus target price of $25.50.

Insiders Place Their Bets

In other Immunome news, CEO Clay B. Siegall purchased 150,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the acquisition, the chief executive officer now owns 669,636 shares in the company, valued at approximately $5,189,679. This trade represents a 28.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its holdings in Immunome by 0.3% during the 3rd quarter. FMR LLC now owns 4,224,700 shares of the company’s stock worth $61,765,000 after purchasing an additional 13,757 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Immunome by 10.3% during the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after buying an additional 324,614 shares during the period. Enavate Sciences GP LLC bought a new position in Immunome during the fourth quarter worth $36,939,000. Price T Rowe Associates Inc. MD lifted its holdings in Immunome by 12.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,282,754 shares of the company’s stock valued at $24,243,000 after buying an additional 246,447 shares during the period. Finally, Geode Capital Management LLC boosted its position in Immunome by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,228,851 shares of the company’s stock valued at $13,054,000 after acquiring an additional 21,396 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Stock Performance

The stock has a fifty day simple moving average of $9.80 and a two-hundred day simple moving average of $11.62. The stock has a market capitalization of $690.87 million, a price-to-earnings ratio of -1.07 and a beta of 1.93.

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.