Immunome, Inc. (NASDAQ:IMNM) Short Interest Update

Immunome, Inc. (NASDAQ:IMNM) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 13,290,000 shares, an increase of 5.9% from the August 15th total of 12,550,000 shares. Currently, 27.1% of the company’s shares are sold short. Based on an average trading volume of 803,700 shares, the days-to-cover ratio is presently 16.5 days.

Wall Street Analysts Forecast Growth

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

Immunome Stock Up 0.6 %

NASDAQ:IMNM opened at $15.50 on Thursday. The company has a market cap of $929.52 million, a price-to-earnings ratio of -2.05 and a beta of 1.77. Immunome has a 52 week low of $6.65 and a 52 week high of $30.96. The company has a fifty day simple moving average of $14.40 and a two-hundred day simple moving average of $16.25.

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

Insiders Place Their Bets

In other news, insider Jack Higgins sold 3,524 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the transaction, the insider now directly owns 16,000 shares in the company, valued at approximately $222,880. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jean Jacques Bienaime acquired 7,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $13.94 per share, for a total transaction of $97,580.00. Following the acquisition, the director now owns 16,615 shares in the company, valued at approximately $231,613.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through 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 approximately $222,880. The disclosure for this sale can be found here. 8.60% of the stock is owned by insiders.

Institutional Trading of Immunome

Large investors have recently made changes to their positions in the company. Avidity Partners Management LP purchased a new position in Immunome in the fourth quarter worth approximately $14,268,000. Mayo Clinic purchased a new stake in shares of Immunome during the 4th quarter worth $1,161,000. Lord Abbett & CO. LLC purchased a new stake in shares of Immunome during the 1st quarter worth $10,994,000. Swiss National Bank acquired a new position in shares of Immunome during the first quarter worth $1,762,000. Finally, Cetera Investment Advisers purchased a new position in Immunome in the first quarter valued at $3,038,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.