Stephens Initiates Coverage on Immunome (NASDAQ:IMNM)

Stephens began coverage on shares of Immunome (NASDAQ:IMNM) in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $30.00 price target on the stock.

Several other equities research analysts have also recently commented on the company. Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Immunome in a report on Friday, October 25th. Piper Sandler cut their target price on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $29.17.

Immunome Trading Up 2.2 %

IMNM opened at $13.26 on Friday. The business’s 50 day moving average is $13.35 and its 200-day moving average is $13.87. The stock has a market cap of $796.26 million, a PE ratio of -1.72 and a beta of 1.82. Immunome has a twelve month low of $6.93 and a twelve month high of $30.96.

Immunome (NASDAQ:IMNM) last announced 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). Immunome had a negative return on equity of 38.19% and a negative net margin of 2,435.02%. The firm had revenue of $2.36 million for the quarter, compared to the consensus estimate of $2.62 million. As a group, analysts forecast that Immunome will post -1.92 EPS for the current year.

Insider Buying and Selling

In other Immunome news, insider Jack Higgins sold 3,524 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jack Higgins sold 3,524 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 16,000 shares of the company’s stock, valued at approximately $222,880. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction of $230,223.80. Following the transaction, the chief financial officer now directly owns 47,476 shares of the company’s stock, valued at $760,090.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA grew its stake in shares of Immunome by 4.5% during the third quarter. Primecap Management Co. CA now owns 280,800 shares of the company’s stock valued at $4,105,000 after purchasing an additional 12,000 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Immunome during the third quarter worth $219,000. Victory Capital Management Inc. raised its holdings in shares of Immunome by 48.1% during the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after acquiring an additional 237,497 shares during the period. Northeast Financial Consultants Inc acquired a new stake in shares of Immunome during the second quarter worth $883,000. Finally, The Manufacturers Life Insurance Company increased its stake in Immunome by 52.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 166,928 shares of the company’s stock valued at $2,020,000 after buying an additional 57,242 shares during the last quarter. Institutional investors and hedge funds own 44.58% 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.