Immunome (NASDAQ:IMNM) Trading Up 5.4% – Still a Buy?

Shares of Immunome, Inc. (NASDAQ:IMNM) shot up 5.4% during mid-day trading on Wednesday . The company traded as high as $12.35 and last traded at $12.15. 124,323 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 777,511 shares. The stock had previously closed at $11.53.

Analyst Ratings Changes

A number of research firms have issued reports on IMNM. Stephens began coverage on Immunome in a research report on Friday, November 8th. They issued an “overweight” rating and a $30.00 price target on the stock. Piper Sandler reduced their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Immunome in a research report on Friday, October 25th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $28.83.

Immunome Stock Up 12.9 %

The company has a market cap of $812.71 million, a price-to-earnings ratio of -1.60 and a beta of 1.82. The company has a fifty day simple moving average of $12.49 and a two-hundred day simple moving average of $13.55.

Insider Transactions at Immunome

In other Immunome news, CEO Clay B. Siegall purchased 66,057 shares of the stock in a transaction on Thursday, November 21st. The stock was bought at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the acquisition, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at $4,633,511.22. This represents a 15.74 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CTO Philip Tsai purchased 21,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of $9.43 per share, with a total value of $198,030.00. Following the transaction, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 102,862 shares of company stock worth $978,045 over the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunome

A number of institutional investors and hedge funds have recently bought and sold shares of IMNM. Price T Rowe Associates Inc. MD lifted its position in Immunome by 113.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after buying an additional 1,194,451 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Immunome by 228.5% in the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after acquiring an additional 1,191,774 shares during the period. Farallon Capital Management LLC purchased a new stake in Immunome during the 1st quarter worth $14,660,000. Janus Henderson Group PLC increased its holdings in Immunome by 10.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after purchasing an additional 324,614 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Immunome by 217.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock valued at $6,469,000 after purchasing an additional 302,916 shares in the last quarter. Institutional investors and hedge funds 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.