Immunome (NASDAQ:IMNM) Stock Price Down 7.1% – Time to Sell?

Immunome, Inc. (NASDAQ:IMNM)’s share price dropped 7.1% on Tuesday . The company traded as low as $9.24 and last traded at $9.33. Approximately 383,331 shares traded hands during trading, a decline of 36% from the average daily volume of 602,353 shares. The stock had previously closed at $10.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IMNM shares. Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research report on Monday. Piper Sandler reduced their price objective on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, Stephens started coverage on shares of Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome has a consensus rating of “Buy” and an average target price of $28.83.

Immunome Stock Performance

The company has a market capitalization of $614.21 million, a PE ratio of -1.21 and a beta of 1.90. The company’s fifty day moving average is $11.59 and its 200-day moving average is $12.94.

Insider Activity

In other Immunome news, CEO Clay B. Siegall bought 66,057 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the transaction, the chief executive officer now owns 485,693 shares of the company’s stock, valued at $4,633,511.22. This trade represents a 15.74 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Lechleider bought 15,805 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the purchase, the insider now directly owns 15,805 shares in the company, valued at $149,831.40. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 102,862 shares of company stock worth $978,045 in the last three months. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System grew its stake in Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after acquiring an additional 918 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Immunome by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after purchasing an additional 1,520 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after purchasing an additional 4,129 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Immunome by 10.5% in the third quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock worth $776,000 after purchasing an additional 5,043 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Immunome in the second quarter worth about $81,000. Institutional investors 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.