Immunome (NASDAQ:IMNM) Stock Price Up 4.4% on Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM) was up 4.4% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $7.68 and last traded at $7.40. Approximately 229,972 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 836,334 shares. The stock had previously closed at $7.09.

Specifically, CEO Clay B. Siegall bought 137,100 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was purchased at an average price of $7.29 per share, for a total transaction of $999,459.00. Following the transaction, the chief executive officer now owns 806,736 shares in the company, valued at approximately $5,881,105.44. This trade represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Philip Tsai bought 12,300 shares of Immunome stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $8.42 per share, for a total transaction of $103,566.00. Following the completion of the transaction, the chief technology officer now directly owns 33,300 shares of the company’s stock, valued at $280,386. This represents a 58.57 % increase in their position. The disclosure for this purchase can be found here. In other news, Director Jean Jacques Bienaime acquired 7,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $8.21 per share, for a total transaction of $57,470.00. Following the transaction, the director now directly owns 23,615 shares of the company’s stock, valued at approximately $193,879.15. This represents a 42.13 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

Several equities analysts recently commented on IMNM shares. Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research note on Thursday, March 20th. Guggenheim cut their price target on Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Stephens reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Immunome in a report on Thursday, March 20th. Finally, Lifesci Capital assumed coverage on Immunome in a report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $25.50.

Immunome Stock Up 4.3 %

The business’s 50 day simple moving average is $9.61 and its two-hundred day simple moving average is $11.41. The stock has a market cap of $643.26 million, a P/E ratio of -0.92 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The firm had revenue of $2.74 million for the quarter, compared to the consensus estimate of $3.07 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. As a group, research analysts forecast that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immunome

A number of institutional investors have recently added to or reduced their stakes in IMNM. Charles Schwab Investment Management Inc. lifted its holdings in shares of Immunome by 217.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock worth $6,469,000 after purchasing an additional 302,916 shares during the period. Geode Capital Management LLC lifted its holdings in Immunome by 13.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after buying an additional 144,557 shares during the period. Magnus Financial Group LLC lifted its stake in shares of Immunome by 107.8% in the fourth quarter. Magnus Financial Group LLC now owns 53,536 shares of the company’s stock worth $569,000 after acquiring an additional 27,777 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Immunome by 22.2% in the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock valued at $6,881,000 after purchasing an additional 85,580 shares in the last quarter. Finally, Barclays PLC boosted its position in Immunome by 125.9% during the third quarter. Barclays PLC now owns 105,886 shares of the company’s stock worth $1,547,000 after purchasing an additional 59,016 shares during the period. 44.58% of the stock is owned by institutional investors.

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.