Immunome, Inc. (NASDAQ:IMNM) Sees Large Drop in Short Interest

Immunome, Inc. (NASDAQ:IMNM) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 9,070,000 shares, a drop of 13.9% from the January 15th total of 10,540,000 shares. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is presently 9.1 days. Currently, 13.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IMNM. Stephens initiated coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research report on Monday, January 13th. Finally, Piper Sandler decreased their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome presently has a consensus rating of “Buy” and a consensus target price of $28.60.

Insider Activity at Immunome

In other Immunome news, CTO Philip Tsai bought 21,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of $9.43 per share, for a total transaction of $198,030.00. Following the completion of the acquisition, the chief technology officer now owns 21,000 shares of the company’s stock, valued at approximately $198,030. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Lechleider purchased 15,805 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price 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. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 252,862 shares of company stock worth $2,140,545 over the last ninety days. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunome

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMNM. AQR Capital Management LLC boosted its stake in shares of Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after buying an additional 4,129 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Immunome by 48.1% in the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after acquiring an additional 237,497 shares during the period. Intech Investment Management LLC purchased a new position in Immunome in the third quarter worth about $219,000. Primecap Management Co. CA grew its stake in shares of Immunome by 4.5% during the 3rd quarter. Primecap Management Co. CA now owns 280,800 shares of the company’s stock valued at $4,105,000 after purchasing an additional 12,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Immunome by 217.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock valued at $6,469,000 after purchasing an additional 302,916 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Stock Down 0.3 %

Shares of NASDAQ:IMNM opened at $10.40 on Tuesday. Immunome has a 1 year low of $8.97 and a 1 year high of $30.96. The stock’s fifty day moving average price is $10.83 and its 200-day moving average price is $12.38.

About Immunome

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.