Immunome (NASDAQ:IMNM) Hits New 12-Month Low – Should You Sell?

Immunome, Inc. (NASDAQ:IMNM)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.51 and last traded at $8.88, with a volume of 395083 shares traded. The stock had previously closed at $9.34.

Analyst Ratings Changes

A number of brokerages recently commented on IMNM. Piper Sandler lowered their price objective on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research report on Monday. Finally, Lifesci Capital initiated coverage on Immunome in a research report on Tuesday. They set an “outperform” rating and a $20.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Immunome has a consensus rating of “Buy” and an average target price of $27.17.

Immunome Stock Up 5.5 %

The firm’s 50 day moving average is $10.09 and its 200-day moving average is $11.89. The firm has a market cap of $734.75 million, a PE ratio of -1.14 and a beta of 1.93.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IMNM. Victory Capital Management Inc. grew 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 period. Intech Investment Management LLC acquired a new position in shares of Immunome in the 3rd quarter valued at $219,000. Primecap Management Co. CA increased its holdings in shares of Immunome by 4.5% during the 3rd quarter. Primecap Management Co. CA now owns 280,800 shares of the company’s stock worth $4,105,000 after buying an additional 12,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Immunome by 217.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock worth $6,469,000 after buying an additional 302,916 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Immunome by 10.5% in the 3rd quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock worth $776,000 after buying an additional 5,043 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.