Immunome, Inc. (NASDAQ:IMNM) Sees Significant Decrease in Short Interest

Immunome, Inc. (NASDAQ:IMNM) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totaling 15,314,650 shares, a drop of 12.6% from the December 31st total of 17,532,234 shares. Based on an average trading volume of 2,451,335 shares, the days-to-cover ratio is currently 6.2 days. Approximately 18.1% of the company’s stock are short sold. Approximately 18.1% of the company’s stock are short sold. Based on an average trading volume of 2,451,335 shares, the days-to-cover ratio is currently 6.2 days.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IMNM shares. Truist Financial assumed coverage on Immunome in a research report on Monday, December 1st. They issued a “buy” rating and a $36.00 price objective on the stock. Guggenheim upped their price target on Immunome from $25.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen raised Immunome from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Wedbush reissued an “outperform” rating and issued a $31.00 target price on shares of Immunome in a research report on Thursday, January 15th. Finally, Evercore ISI upped their target price on shares of Immunome from $18.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 16th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Immunome Stock Performance

Immunome stock opened at $26.41 on Thursday. The stock has a market cap of $2.42 billion, a PE ratio of -8.95 and a beta of 2.32. Immunome has a one year low of $5.15 and a one year high of $27.65. The stock has a fifty day moving average of $21.78 and a 200 day moving average of $15.88.

Immunome (NASDAQ:IMNM) last announced its 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%. As a group, sell-side analysts predict that Immunome will post -2.21 EPS for the current fiscal year.

Insider Transactions at Immunome

In other news, insider Philip Tsai purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were bought at an average price of $20.49 per share, for a total transaction of $204,900.00. Following the purchase, the insider directly owned 43,300 shares in the company, valued at approximately $887,217. This trade represents a 30.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clay B. Siegall acquired 46,511 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $999,986.50. Following the completion of the transaction, the chief executive officer directly owned 853,247 shares in the company, valued at $18,344,810.50. The trade was a 5.77% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 68,518 shares of company stock valued at $1,453,958 in the last quarter. 7.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Immunome

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. bought a new position in shares of Immunome in the third quarter worth approximately $39,000. BNP Paribas Financial Markets grew its holdings in shares of Immunome by 81.8% in the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock valued at $60,000 after purchasing an additional 2,909 shares in the last quarter. Strs Ohio purchased a new position in shares of Immunome in the fourth quarter valued at $64,000. Tower Research Capital LLC TRC raised its stake in Immunome by 121.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after purchasing an additional 3,802 shares in the last quarter. Finally, BIT Capital GmbH bought a new position in Immunome during the third quarter valued at $69,000. Institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

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.