Immunome (NASDAQ:IMNM) Shares Down 6.7% – Should You Sell?

Immunome, Inc. (NASDAQ:IMNM) dropped 6.7% during trading on Tuesday . The stock traded as low as $6.20 and last traded at $6.28. Approximately 737,205 shares changed hands during trading, a decline of 16% from the average daily volume of 876,257 shares. The stock had previously closed at $6.73.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IMNM. Lifesci Capital began coverage on shares of Immunome in a research note on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price objective on the stock. Guggenheim decreased their price objective on Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $33.00 target price on shares of Immunome in a report on Thursday, March 20th. Finally, Stephens reissued an “overweight” rating and issued a $30.00 price target on shares of Immunome in a report on Thursday, March 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $25.50.

Immunome Stock Down 7.0 %

The business has a 50-day simple moving average of $9.43 and a 200-day simple moving average of $11.23. The company has a market cap of $544.31 million, a PE ratio of -0.77 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last announced its earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The business had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $3.07 million. On average, research analysts forecast that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling at Immunome

In other news, CEO Clay B. Siegall acquired 150,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were bought at an average price of $7.75 per share, for a total transaction of $1,162,500.00. Following the acquisition, the chief executive officer now owns 669,636 shares of the company’s stock, valued at approximately $5,189,679. This trade represents a 28.87 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jean Jacques Bienaime bought 7,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $8.21 per share, with a total value of $57,470.00. Following the acquisition, the director now directly owns 23,615 shares of the company’s stock, valued at approximately $193,879.15. This represents a 42.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 306,400 shares of company stock valued at $2,322,995 over the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in Immunome in the 4th quarter valued at about $70,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Immunome in the fourth quarter valued at approximately $75,000. AlphaQuest LLC lifted its position in Immunome by 786,700.0% during the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock worth $84,000 after buying an additional 7,867 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Immunome by 482.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock worth $91,000 after buying an additional 7,129 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in Immunome in the 4th quarter valued at $95,000. 44.58% of the stock is owned by hedge funds and other 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.