Immunome (NASDAQ:IMNM) Trading 3.4% Higher After Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s share price rose 3.4% on Tuesday after an insider bought additional shares in the company. The company traded as high as $14.80 and last traded at $14.79. Approximately 156,208 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 803,093 shares. The stock had previously closed at $14.30.

Specifically, Director Jean Jacques Bienaime acquired 7,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $13.94 per share, for a total transaction of $97,580.00. Following the purchase, the director now owns 16,615 shares in the company, valued at $231,613.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

IMNM has been the topic of a number of research analyst reports. Piper Sandler cut their target price on Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. began coverage on shares of Immunome in a research note on Tuesday, April 30th. They issued an “overweight” rating and a $24.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome currently has a consensus rating of “Buy” and an average target price of $29.00.

Immunome Stock Performance

The business has a 50 day moving average of $13.54 and a 200-day moving average of $17.45. The company has a market capitalization of $912.13 million, a P/E ratio of -2.01 and a beta of 1.78.

Institutional Investors Weigh In On Immunome

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System grew its stake in Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after acquiring an additional 918 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings in Immunome by 18.2% in the 2nd quarter. Clear Creek Financial Management LLC now owns 26,188 shares of the company’s stock valued at $317,000 after purchasing an additional 4,035 shares during the period. AQR Capital Management LLC grew its position in shares of Immunome by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after purchasing an additional 4,129 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Immunome by 21,864.0% in 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 during the period. Finally, Quest Partners LLC purchased a new stake in shares of Immunome in the second quarter worth $81,000. 44.58% of the stock is currently owned by institutional investors.

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.