Immunome (NASDAQ:IMNM) Stock Price Down 7.1% – What’s Next?

Immunome, Inc. (NASDAQ:IMNM)’s stock price fell 7.1% on Tuesday . The company traded as low as $9.24 and last traded at $9.33. 383,331 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 602,353 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

IMNM has been the subject of a number of recent research reports. Stephens initiated coverage on shares of Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target for the company. Piper Sandler dropped 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 restated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research note on Monday. Seven research 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 price target of $28.83.

Immunome Trading Down 7.0 %

The firm has a market capitalization of $582.97 million, a PE ratio of -1.15 and a beta of 1.90. The firm has a 50 day simple moving average of $11.72 and a 200 day simple moving average of $12.98.

Insider Activity at Immunome

In related news, CEO Clay B. Siegall purchased 66,057 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $9.54 per share, with a total value of $630,183.78. Following the acquisition, the chief executive officer now directly owns 485,693 shares in the company, valued at $4,633,511.22. The trade was a 15.74 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Lechleider acquired 15,805 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were bought 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 of the company’s stock, valued at $149,831.40. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 102,862 shares of company stock valued at $978,045 over the last ninety days. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Several hedge funds and other institutional investors have recently modified their holdings of IMNM. FMR LLC increased its position in Immunome by 0.3% during 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 increased its position in shares of Immunome by 10.3% during 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 during the last quarter. Marshall Wace LLP lifted 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 worth $20,731,000 after purchasing an additional 1,191,774 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Immunome by 13.6% in the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after buying an additional 144,557 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Immunome by 48.1% in the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after buying an additional 237,497 shares during the last quarter. 44.58% of the stock is owned by 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.