Immunome (NASDAQ:IMNM) Shares Gap Up Following Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s stock price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $6.95, but opened at $7.44. Immunome shares last traded at $7.26, with a volume of 247,799 shares.

Specifically, CTO Philip Tsai acquired 12,300 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $8.42 per share, with a total value of $103,566.00. Following the completion of the acquisition, the chief technology officer now owns 33,300 shares of the company’s stock, valued at $280,386. This trade represents a 58.57 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jean Jacques Bienaime bought 7,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was purchased at an average price of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the acquisition, the director now directly owns 23,615 shares in the company, valued at $193,879.15. The trade was a 42.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IMNM shares. Stephens reiterated an “overweight” rating and set a $30.00 price target on shares of Immunome in a report on Thursday, March 20th. Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Immunome in a research note on Thursday, March 20th. Lifesci Capital began coverage on Immunome in a report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Guggenheim reduced their price target on shares of Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $25.50.

Immunome Price Performance

The business’s 50 day moving average is $9.67 and its 200-day moving average is $11.44. The company has a market cap of $632.05 million, a PE ratio of -0.90 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The business had revenue of $2.74 million during the quarter, compared to analyst estimates of $3.07 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. As a group, sell-side analysts predict that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Immunome

Several hedge funds have recently made changes to their positions in IMNM. FMR LLC increased its holdings in shares of Immunome by 0.3% in the third quarter. FMR LLC now owns 4,224,700 shares of the company’s stock valued at $61,765,000 after purchasing an additional 13,757 shares during the period. 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 in the last quarter. Enavate Sciences GP LLC purchased a new stake in shares of Immunome in the fourth quarter valued at approximately $36,939,000. Price T Rowe Associates Inc. MD raised its position in Immunome by 12.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,282,754 shares of the company’s stock worth $24,243,000 after acquiring an additional 246,447 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Immunome by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,228,851 shares of the company’s stock valued at $13,054,000 after acquiring an additional 21,396 shares during the period. Hedge funds and other institutional investors 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.