Immunome (NASDAQ:IMNM) Stock Price Up 9.4% – Time to Buy?

Immunome, Inc. (NASDAQ:IMNM)’s stock price shot up 9.4% during trading on Tuesday . The stock traded as high as $21.01 and last traded at $21.11. 282,944 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,521,604 shares. The stock had previously closed at $19.30.

Wall Street Analyst Weigh In

IMNM has been the subject of several research reports. Stephens lowered their price target on shares of Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research note on Thursday, January 22nd. Lake Street Capital upped their target price on Immunome from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Craig Hallum increased their target price on Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Guggenheim lifted 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. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.45.

Immunome Stock Up 2.7%

The firm has a market capitalization of $2.54 billion, a PE ratio of -9.28 and a beta of 2.13. The company’s 50-day simple moving average is $22.50 and its 200 day simple moving average is $19.11.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.10). On average, sell-side analysts forecast that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Transactions at Immunome

In other news, Director Philip Wagenheim sold 36,800 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $20.47, for a total transaction of $753,296.00. Following the transaction, the director directly owned 369,347 shares of the company’s stock, valued at approximately $7,560,533.09. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.69% of the company’s stock.

Institutional Trading of Immunome

Institutional investors have recently made changes to their positions in the business. Stoneridge Investment Partners LLC increased its position in Immunome by 5.4% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 12,174 shares of the company’s stock valued at $143,000 after buying an additional 620 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in Immunome by 6.1% in the third quarter. ANTIPODES PARTNERS Ltd now owns 10,892 shares of the company’s stock worth $128,000 after acquiring an additional 631 shares in the last quarter. Creative Planning boosted its holdings in Immunome by 4.0% in the third quarter. Creative Planning now owns 18,664 shares of the company’s stock worth $219,000 after acquiring an additional 710 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Immunome by 14.4% during the fourth quarter. Russell Investments Group Ltd. now owns 7,417 shares of the company’s stock worth $159,000 after acquiring an additional 935 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Immunome by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 67,012 shares of the company’s stock worth $1,439,000 after acquiring an additional 1,167 shares during the last quarter. Institutional investors and hedge funds 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.