Immunome (NASDAQ:IMNM) Posts Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Immunome (NASDAQ:IMNM) released its quarterly earnings data on Tuesday. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14), FiscalAI reports.

Immunome Stock Up 2.2%

Shares of Immunome stock opened at $26.25 on Wednesday. The company has a market cap of $2.97 billion, a PE ratio of -11.03 and a beta of 2.07. Immunome has a 52 week low of $8.66 and a 52 week high of $27.65. The business has a 50 day moving average price of $21.73 and a 200-day moving average price of $22.18.

Insider Buying and Selling

In related news, insider Robert Lechleider sold 55,000 shares of Immunome stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $19.85, for a total transaction of $1,091,750.00. Following the transaction, the insider owned 15,805 shares of the company’s stock, valued at $313,729.25. The trade was a 77.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total value of $2,273,555.44. Following the sale, the insider owned 50,366 shares of the company’s stock, valued at $1,263,682.94. This trade represents a 64.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 598,846 shares of company stock worth $13,476,656 in the last ninety days. Corporate insiders own 7.21% of the company’s stock.

Institutional Trading of Immunome

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Immunome by 14.4% in the 4th quarter. Russell Investments Group Ltd. now owns 7,417 shares of the company’s stock valued at $159,000 after acquiring an additional 935 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Immunome during the fourth quarter valued at about $183,000. Ensign Peak Advisors Inc bought a new position in Immunome during the fourth quarter worth about $165,000. Creative Planning boosted its position in Immunome by 4.0% during the third quarter. Creative Planning now owns 18,664 shares of the company’s stock worth $219,000 after purchasing an additional 710 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Immunome by 168.2% during the third quarter. Raymond James Financial Inc. now owns 10,300 shares of the company’s stock worth $121,000 after purchasing an additional 6,459 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IMNM. Citigroup reaffirmed a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Truist Financial boosted their price objective on Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Wall Street Zen downgraded Immunome from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Leerink Partners lowered their target price on Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Finally, Barclays began coverage on Immunome in a report on Thursday, May 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Immunome currently has an average rating of “Moderate Buy” and a consensus price target of $34.18.

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.