Immunome (NASDAQ:IMNM) Stock Price Down 6.6% – What’s Next?

Immunome, Inc. (NASDAQ:IMNM) shares dropped 6.6% during mid-day trading on Tuesday. The company traded as low as $19.84 and last traded at $19.7820. Approximately 448,182 shares traded hands during trading, a decline of 67% from the average session volume of 1,350,658 shares. The stock had previously closed at $21.17.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IMNM shares. Truist Financial lifted their price target on Immunome from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Alliance Global Partners initiated coverage on shares of Immunome in a research note on Monday, September 21st. They issued a “buy” rating and a $32.00 target price for the company. Wall Street Zen lowered shares of Immunome from a “sell” rating to a “strong sell” rating in a research note on Sunday. Wedbush lifted their price objective on shares of Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Finally, Citigroup reissued a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.25.

Immunome Stock Performance

The stock’s 50-day simple moving average is $25.16 and its two-hundred day simple moving average is $22.86. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -7.55 and a beta of 2.55.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). As a group, research analysts predict that Immunome, Inc. will post -2.43 earnings per share for the current year.

Insider Activity at Immunome

In other Immunome news, insider Kinney Horn sold 90,616 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total value of $2,273,555.44. Following the sale, the insider directly owned 50,366 shares in the company, valued at $1,263,682.94. This trade represents a 64.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 13,200 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the transaction, the insider owned 65,050 shares in the company, valued at approximately $1,647,066. The trade was a 16.87% 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 a total of 223,368 shares of company stock worth $5,747,142 in the last ninety days. 7.21% of the stock is currently owned by insiders.

Institutional Trading of Immunome

Hedge funds have recently modified their holdings of the company. Allworth Financial LP acquired a new position in shares of Immunome in the second quarter valued at $25,000. Integrated Wealth Concepts LLC bought a new stake in Immunome in the 2nd quarter valued at $27,000. KBC Group NV acquired a new position in shares of Immunome in the 1st quarter valued at $60,000. Assetmark Inc. raised its stake in shares of Immunome by 46.6% in the 1st quarter. Assetmark Inc. now owns 4,535 shares of the company’s stock valued at $99,000 after buying an additional 1,442 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Immunome during the 2nd quarter worth about $109,000. Institutional investors own 44.58% of the company’s stock.

About Immunome

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome’s research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.