Stephens Begins Coverage on Immunome (NASDAQ:IMNM)

Research analysts at Stephens initiated coverage on shares of Immunome (NASDAQ:IMNM) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $30.00 price target on the stock. Stephens’ price objective would suggest a potential upside of 139.23% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler reduced their target price on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $29.17.

Immunome Price Performance

NASDAQ:IMNM opened at $12.54 on Friday. Immunome has a one year low of $6.93 and a one year high of $30.96. The company has a market cap of $753.08 million, a P/E ratio of -1.63 and a beta of 1.82. The firm’s fifty day moving average price is $13.43 and its two-hundred day moving average price is $13.90.

Immunome (NASDAQ:IMNM) last announced its earnings results on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.11). The business had revenue of $2.36 million during the quarter, compared to the consensus estimate of $2.62 million. Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. As a group, equities research analysts expect that Immunome will post -1.92 earnings per share for the current year.

Insiders Place Their Bets

In other Immunome news, insider Jack Higgins sold 3,524 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the completion of the transaction, the insider now owns 16,000 shares of the company’s stock, valued at approximately $222,880. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jean Jacques Bienaime acquired 7,000 shares of the stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $13.94 per share, with a total value of $97,580.00. Following the completion of the purchase, the director now directly owns 16,615 shares of the company’s stock, valued at $231,613.10. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jack Higgins sold 3,524 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the transaction, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new stake in Immunome during the 1st quarter valued at approximately $10,994,000. Swiss National Bank bought a new position in Immunome during the 1st quarter valued at $1,762,000. Sofinnova Investments Inc. increased its position in shares of Immunome by 10.3% during the 2nd quarter. Sofinnova Investments Inc. now owns 655,680 shares of the company’s stock valued at $7,934,000 after purchasing an additional 61,284 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Immunome in the 1st quarter worth about $3,038,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after acquiring an additional 1,194,451 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.