Immunome (NASDAQ:IMNM) Shares Down 5.2%

Immunome, Inc. (NASDAQ:IMNM) traded down 5.2% during mid-day trading on Tuesday . The stock traded as low as $11.50 and last traded at $11.57. 253,007 shares traded hands during trading, a decline of 71% from the average session volume of 857,751 shares. The stock had previously closed at $12.20.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Immunome in a research note on Tuesday, April 30th. They set an “overweight” rating and a $24.00 price objective for the company. Piper Sandler started coverage on shares of Immunome in a research note on Friday, May 31st. They set an “overweight” rating and a $27.00 price objective for the company. Guggenheim started coverage on Immunome in a report on Monday, April 15th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Tuesday, May 14th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $29.80.

Immunome Price Performance

The firm has a fifty day moving average of $14.19 and a 200-day moving average of $17.16.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.46. The company had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $4.00 million. Immunome had a negative net margin of 1,829.44% and a negative return on equity of 37.33%. Equities analysts anticipate that Immunome, Inc. will post -1.45 earnings per share for the current year.

Insider Buying and Selling at Immunome

In other news, Director Jean Jacques Bienaime acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was bought at an average cost of $13.57 per share, with a total value of $27,140.00. Following the transaction, the director now directly owns 9,615 shares in the company, valued at approximately $130,475.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immunome

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC lifted its position in shares of Immunome by 21,864.0% during the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock worth $136,000 after purchasing an additional 5,466 shares during the last quarter. Jump Financial LLC bought a new position in shares of Immunome during the fourth quarter worth about $172,000. Sei Investments Co. bought a new position in shares of Immunome during the first quarter worth about $469,000. Clear Creek Financial Management LLC bought a new position in shares of Immunome during the first quarter worth about $547,000. Finally, Emfo LLC bought a new position in shares of Immunome during the fourth quarter worth about $633,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.