Immunome’s (IMNM) “Outperform” Rating Reiterated at Wedbush

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a note issued to investors on Thursday,Benzinga reports. They currently have a $31.00 target price on the stock. Wedbush’s target price indicates a potential upside of 49.33% from the stock’s current price.

IMNM has been the subject of several other reports. Guggenheim raised their price objective on Immunome from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group initiated coverage on shares of Immunome in a report on Monday, September 22nd. They set a “buy” rating and a $26.00 price target on the stock. Truist Financial initiated coverage on Immunome in a report on Monday, December 1st. They set a “buy” rating and a $36.00 price objective for the company. Wall Street Zen upgraded Immunome from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, Stephens lifted their price target on Immunome from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Immunome Trading Up 3.1%

NASDAQ:IMNM opened at $20.76 on Thursday. The company has a 50-day moving average of $19.54 and a 200-day moving average of $14.22. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -7.04 and a beta of 2.22. Immunome has a twelve month low of $5.15 and a twelve month high of $25.30.

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

Insiders Place Their Bets

In other news, Director Isaac Barchas sold 383,200 shares of Immunome stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $21.74, for a total transaction of $8,330,768.00. Following the sale, the director directly owned 2,031,181 shares in the company, valued at approximately $44,157,874.94. The trade was a 15.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clay B. Siegall purchased 4,729 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was acquired at an average cost of $21.15 per share, with a total value of $100,018.35. Following the transaction, the chief executive officer directly owned 665,254 shares of the company’s stock, valued at approximately $14,070,122.10. This represents a 0.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 68,518 shares of company stock worth $1,453,958 over the last 90 days. Corporate insiders own 7.69% of the company’s stock.

Hedge Funds Weigh In On Immunome

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Immunome by 44.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company’s stock valued at $316,000 after buying an additional 14,398 shares during the period. Rhumbline Advisers boosted its stake in shares of Immunome by 30.4% in the 1st quarter. Rhumbline Advisers now owns 88,888 shares of the company’s stock valued at $598,000 after purchasing an additional 20,721 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Immunome by 21.2% during the 1st quarter. Voya Investment Management LLC now owns 18,905 shares of the company’s stock worth $127,000 after buying an additional 3,305 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Immunome by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,187 shares of the company’s stock worth $470,000 after buying an additional 1,643 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Immunome in the second quarter valued at approximately $428,000. Institutional investors own 44.58% of the company’s stock.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.