Immunome (NASDAQ:IMNM) Sets New 52-Week High on Analyst Upgrade

Shares of Immunome, Inc. (NASDAQ:IMNM) reached a new 52-week high during mid-day trading on Tuesday after Stephens raised their price target on the stock from $25.00 to $33.00. Stephens currently has an overweight rating on the stock. Immunome traded as high as $18.79 and last traded at $18.13, with a volume of 1680551 shares trading hands. The stock had previously closed at $17.14.

A number of other research firms have also commented on IMNM. Evercore ISI started coverage on Immunome in a research note on Friday, August 22nd. They set an “outperform” rating and a $18.00 price objective on the stock. Wall Street Zen cut shares of Immunome from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. cut their price objective on shares of Immunome from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Guggenheim reissued a “buy” rating and set a $25.00 price objective on shares of Immunome in a research note on Monday, August 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Immunome in a research note on Friday, November 7th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IMNM. MetLife Investment Management LLC raised its holdings in shares of Immunome by 19.1% during the 1st quarter. MetLife Investment Management LLC now owns 42,411 shares of the company’s stock valued at $285,000 after buying an additional 6,792 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Immunome by 55.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 775,000 shares of the company’s stock valued at $5,216,000 after acquiring an additional 275,000 shares in the last quarter. Exome Asset Management LLC acquired a new stake in Immunome in the first quarter valued at approximately $1,776,000. Charles Schwab Investment Management Inc. raised its stake in shares of Immunome by 34.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 614,387 shares of the company’s stock valued at $4,135,000 after purchasing an additional 157,135 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Immunome during the second quarter worth $793,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Immunome Stock Down 1.5%

The firm’s 50 day moving average price is $13.89 and its two-hundred day moving average price is $10.94. The firm has a market capitalization of $1.64 billion, a PE ratio of -6.05 and a beta of 1.96.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Immunome had a negative return on equity of 76.50% and a negative net margin of 1,687.08%. On average, sell-side analysts anticipate that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

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.