Immunome (NASDAQ:IMNM) Shares Down 6.7% – Here’s Why

Shares of Immunome, Inc. (NASDAQ:IMNM) traded down 6.7% during mid-day trading on Friday . The stock traded as low as $9.23 and last traded at $9.14. 657,998 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,041,214 shares. The stock had previously closed at $9.79.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $21.00 price target (down from $33.00) on shares of Immunome in a report on Tuesday, May 13th. Wall Street Zen raised Immunome from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of Immunome in a report on Thursday, March 20th. Guggenheim cut their price target on Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Lifesci Capital started coverage on shares of Immunome in a research report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

Immunome Stock Performance

The business has a 50 day moving average of $8.22 and a two-hundred day moving average of $9.45. The firm has a market capitalization of $800.51 million, a price-to-earnings ratio of -1.13 and a beta of 1.94.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. The firm had revenue of $2.93 million during the quarter, compared to the consensus estimate of $0.46 million. On average, equities analysts predict that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling at Immunome

In other Immunome news, Director Jean Jacques Bienaime purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were acquired at an average price of $9.38 per share, with a total value of $46,900.00. Following the transaction, the director now owns 36,415 shares in the company, valued at $341,572.70. The trade was a 15.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clay B. Siegall purchased 137,100 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of $7.29 per share, with a total value of $999,459.00. Following the purchase, the chief executive officer now directly owns 806,736 shares in the company, valued at approximately $5,881,105.44. The trade was a 20.47% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 161,400 shares of company stock worth $1,207,395. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Immunome

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