Immunome (NASDAQ:IMNM) Shares Down 5.7% – Here’s What Happened

Shares of Immunome, Inc. (NASDAQ:IMNM) traded down 5.7% during mid-day trading on Friday . The stock traded as low as $10.47 and last traded at $10.47. 110,281 shares changed hands during trading, a decline of 86% from the average session volume of 779,801 shares. The stock had previously closed at $11.10.

Analyst Upgrades and Downgrades

IMNM has been the topic of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Friday, October 25th. Stephens began coverage on Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Piper Sandler cut their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Immunome has a consensus rating of “Buy” and an average target price of $28.83.

Immunome Stock Down 5.0 %

The firm has a 50-day simple moving average of $12.01 and a 200-day simple moving average of $13.18. The stock has a market cap of $657.88 million, a PE ratio of -1.30 and a beta of 1.83.

Insider Buying and Selling

In other news, CTO Philip Tsai purchased 21,000 shares of Immunome stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of $9.43 per share, for a total transaction of $198,030.00. Following the transaction, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at approximately $198,030. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Lechleider acquired 15,805 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $9.48 per share, for a total transaction of $149,831.40. Following the transaction, the insider now directly owns 15,805 shares of the company’s stock, valued at $149,831.40. This represents a ? increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 102,862 shares of company stock valued at $978,045. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new position in shares of Immunome during the second quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Immunome during the second quarter valued at approximately $97,000. Arizona State Retirement System lifted 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 during the last quarter. Intech Investment Management LLC purchased a new position in Immunome in the 3rd quarter worth approximately $219,000. Finally, AQR Capital Management LLC increased its holdings in shares of Immunome by 34.6% in the 2nd 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 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.