Immunome, Inc. (NASDAQ:IMNM) Short Interest Up 12.2% in December

Immunome, Inc. (NASDAQ:IMNM) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 9,870,000 shares, a growth of 12.2% from the December 15th total of 8,800,000 shares. Approximately 19.2% of the shares of the stock are sold short. Based on an average trading volume of 787,000 shares, the days-to-cover ratio is presently 12.5 days.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IMNM. Piper Sandler decreased their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Stephens started coverage on shares of Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Monday, January 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunome currently has a consensus rating of “Buy” and an average price target of $28.83.

Immunome Trading Up 1.3 %

Shares of NASDAQ IMNM traded up $0.13 during mid-day trading on Friday, reaching $9.99. The company had a trading volume of 900,280 shares, compared to its average volume of 718,408. The stock has a market cap of $623.58 million, a price-to-earnings ratio of -1.23 and a beta of 1.90. Immunome has a 52 week low of $8.97 and a 52 week high of $30.96. The business’s 50-day moving average is $11.47 and its 200-day moving average is $12.90.

Insider Activity

In related news, CTO Philip Tsai acquired 21,000 shares of Immunome stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $9.43 per share, with a total value of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Clay B. Siegall acquired 66,057 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, with a total value of $630,183.78. Following the completion of the purchase, the chief executive officer now directly owns 485,693 shares in the company, valued at approximately $4,633,511.22. The trade was a 15.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 102,862 shares of company stock worth $978,045. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunome

A number of hedge funds have recently added to or reduced their stakes in IMNM. Marshall Wace LLP grew its position in shares of Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after buying an additional 1,191,774 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Immunome by 10.3% in the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after acquiring an additional 324,614 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Immunome by 217.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock worth $6,469,000 after acquiring an additional 302,916 shares in the last quarter. Victory Capital Management Inc. increased its position in Immunome by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after purchasing an additional 237,497 shares during the period. Finally, AXA S.A. bought a new stake in shares of Immunome in the 2nd quarter valued at about $2,174,000. 44.58% of the stock is currently owned by institutional investors.

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.