Wedbush Has Bullish Forecast for Immunome FY2024 Earnings

Immunome, Inc. (NASDAQ:IMNM) – Wedbush boosted their FY2024 EPS estimates for shares of Immunome in a research note issued to investors on Wednesday, November 13th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($2.11) per share for the year, up from their previous estimate of ($2.23). Wedbush has a “Outperform” rating and a $33.00 price objective on the stock. The consensus estimate for Immunome’s current full-year earnings is ($2.13) per share. Wedbush also issued estimates for Immunome’s Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.72) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.69) EPS, FY2025 earnings at ($2.77) EPS, FY2026 earnings at ($2.70) EPS and FY2027 earnings at ($2.11) EPS.

IMNM has been the topic of several other research reports. Stephens assumed coverage on shares of Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 price objective on the stock. Piper Sandler decreased their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $28.83.

Immunome Stock Performance

Immunome stock opened at $9.39 on Monday. The firm has a market cap of $586.10 million, a PE ratio of -1.16 and a beta of 1.82. The firm’s 50 day moving average price is $12.91 and its two-hundred day moving average price is $13.70. Immunome has a twelve month low of $6.93 and a twelve month high of $30.96.

Institutional Trading of Immunome

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after purchasing an additional 1,194,451 shares during the period. Marshall Wace LLP boosted its holdings in 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 purchasing an additional 1,191,774 shares during the period. Redmile Group LLC boosted its holdings in Immunome by 26.0% in the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock valued at $120,674,000 after purchasing an additional 1,010,139 shares during the period. Farallon Capital Management LLC bought a new stake in Immunome in the 1st quarter valued at $14,660,000. Finally, Janus Henderson Group PLC boosted 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 during the period. 44.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction of $230,223.80. Following the completion of the sale, the chief financial officer now directly owns 47,476 shares of the company’s stock, valued at approximately $760,090.76. This represents a 23.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.60% 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.