Immunome (NASDAQ:IMNM) Stock Price Down 5.6% After Insider Selling

Immunome, Inc. (NASDAQ:IMNM) fell 5.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $14.05 and last traded at $14.15. 319,038 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 780,663 shares. The stock had previously closed at $14.99.

Specifically, CFO Max Rosett sold 14,380 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the completion of the transaction, the chief financial officer now directly owns 47,476 shares of the company’s stock, valued at $760,090.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

IMNM has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Tuesday, August 13th. Piper Sandler decreased their price objective on Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Immunome has an average rating of “Buy” and an average target price of $29.00.

Immunome Trading Down 6.6 %

The firm’s 50 day moving average price is $14.54 and its 200-day moving average price is $15.94. The company has a market cap of $839.57 million, a P/E ratio of -1.85 and a beta of 1.77.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.11). The business had revenue of $2.36 million during the quarter, compared to the consensus estimate of $2.62 million. Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. Analysts predict that Immunome, Inc. will post -1.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunome

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC acquired a new position in shares of Immunome during the 2nd quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Immunome in the second quarter valued at approximately $97,000. Arizona State Retirement System raised its holdings in Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares during the period. EntryPoint Capital LLC boosted 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 in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Immunome in the 4th quarter valued at $172,000. 44.58% of the stock is owned by institutional investors and hedge funds.

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.