Brokerages Set Immunome, Inc. (NASDAQ:IMNM) Price Target at $29.00

Shares of Immunome, Inc. (NASDAQ:IMNM) have received a consensus rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $29.00.

A number of research firms recently commented on IMNM. Piper Sandler reduced their price target on Immunome from $27.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $33.00 price target on shares of Immunome in a report on Tuesday, August 13th.

Immunome Price Performance

Shares of NASDAQ IMNM opened at $15.97 on Thursday. The stock has a market capitalization of $957.70 million, a price-to-earnings ratio of -2.12 and a beta of 1.77. The business has a 50-day moving average of $14.27 and a 200-day moving average of $16.44. Immunome has a fifty-two week low of $6.65 and a fifty-two week high of $30.96.

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

Insiders Place Their Bets

In other Immunome news, insider Jack Higgins sold 3,524 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the sale, the insider now directly owns 16,000 shares in the company, valued at $222,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Immunome news, Director Jean Jacques Bienaime purchased 7,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $13.94 per share, for a total transaction of $97,580.00. Following the completion of the transaction, the director now owns 16,615 shares in the company, valued at $231,613.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jack Higgins sold 3,524 shares of Immunome stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the sale, the insider now owns 16,000 shares of the company’s stock, valued at $222,880. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC raised its position in Immunome by 21,864.0% during the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock valued at $136,000 after purchasing an additional 5,466 shares in the last quarter. Quest Partners LLC acquired a new position in Immunome during the second quarter valued at approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Immunome during the second quarter valued at approximately $97,000. Arizona State Retirement System raised its position 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 purchasing an additional 918 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after buying an additional 4,129 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.