Short Interest in Immunome, Inc. (NASDAQ:IMNM) Decreases By 8.9%

Immunome, Inc. (NASDAQ:IMNM) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 12,550,000 shares, a decline of 8.9% from the July 31st total of 13,780,000 shares. Approximately 25.6% of the company’s shares are sold short. Based on an average trading volume of 864,600 shares, the short-interest ratio is currently 14.5 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Immunome in a research report on Tuesday, August 13th. Piper Sandler decreased 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 MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $29.00.

Insider Buying and Selling at Immunome

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

Hedge Funds Weigh In On Immunome

Several hedge funds and other institutional investors have recently bought and sold shares of IMNM. Avidity Partners Management LP acquired a new stake in shares of Immunome during the fourth quarter valued at about $14,268,000. Price T Rowe Associates Inc. MD boosted its holdings in Immunome by 113.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after purchasing an additional 1,194,451 shares during the last quarter. Marshall Wace LLP grew its stake in Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after purchasing an additional 1,191,774 shares in the last quarter. Redmile Group LLC increased its holdings in Immunome by 26.0% during the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock worth $120,674,000 after purchasing an additional 1,010,139 shares during the last quarter. Finally, Farallon Capital Management LLC acquired a new position in shares of Immunome in the 1st quarter valued at approximately $14,660,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Trading Down 7.5 %

Shares of IMNM traded down $1.14 during midday trading on Tuesday, reaching $14.04. 461,807 shares of the company were exchanged, compared to its average volume of 784,341. Immunome has a 1-year low of $6.13 and a 1-year high of $30.96. The stock has a 50-day moving average price of $13.80 and a 200-day moving average price of $17.00. The company has a market cap of $843.10 million, a price-to-earnings ratio of -1.91 and a beta of 1.78.

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.