Immunome (NASDAQ:IMNM) Shares Gap Down – What’s Next?

Immunome, Inc. (NASDAQ:IMNM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $23.48, but opened at $21.60. Immunome shares last traded at $21.3160, with a volume of 2,520,923 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stephens increased their price objective on shares of Immunome from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Wedbush reiterated an “outperform” rating and set a $21.00 price target on shares of Immunome in a research report on Friday, November 7th. Guggenheim upped their price objective on Immunome from $25.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Immunome in a research note on Monday, September 22nd. They set a “buy” rating and a $26.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.09.

Immunome Stock Down 10.7%

The business’s 50 day simple moving average is $17.30 and its 200 day simple moving average is $12.49. The company has a market capitalization of $1.92 billion, a PE ratio of -7.14 and a beta of 2.17.

Immunome (NASDAQ:IMNM) last released its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share 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, analysts anticipate that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Institutional Trading of Immunome

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Immunome by 43.4% during the first quarter. Vanguard Group Inc. now owns 4,307,191 shares of the company’s stock valued at $28,987,000 after buying an additional 1,303,753 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $4,135,000 after purchasing an additional 157,135 shares during the period. Deutsche Bank AG grew its position in Immunome by 38.2% during the first quarter. Deutsche Bank AG now owns 63,682 shares of the company’s stock valued at $429,000 after purchasing an additional 17,607 shares in the last quarter. Swiss National Bank lifted its position in Immunome by 67.5% in the 1st quarter. Swiss National Bank now owns 128,000 shares of the company’s stock worth $861,000 after buying an additional 51,600 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Immunome by 6.4% during the 1st quarter. Invesco Ltd. now owns 28,379 shares of the company’s stock valued at $191,000 after buying an additional 1,718 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.