JPMorgan Chase & Co. Initiates Coverage on Immunome (NASDAQ:IMNM)

JPMorgan Chase & Co. assumed coverage on shares of Immunome (NASDAQ:IMNM) in a research note published on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $24.00 price objective on the stock.

IMNM has been the subject of several other reports. Guggenheim initiated coverage on Immunome in a report on Monday, April 15th. They issued a buy rating and a $35.00 price target for the company. Leerink Partnrs restated an outperform rating on shares of Immunome in a report on Monday, January 29th. SVB Leerink initiated coverage on Immunome in a report on Monday, January 29th. They issued an outperform rating and a $30.00 price target for the company. Finally, Wedbush increased their price target on Immunome from $27.00 to $33.00 and gave the stock an outperform rating in a report on Monday, April 1st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $30.50.

Immunome Trading Up 5.2 %

NASDAQ IMNM opened at $15.75 on Tuesday. The stock has a 50-day simple moving average of $21.27 and a 200 day simple moving average of $15.27. The company has a market capitalization of $944.06 million, a PE ratio of -2.92 and a beta of 1.87. Immunome has a 12 month low of $4.50 and a 12 month high of $30.96.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). The company had revenue of $3.83 million during the quarter, compared to the consensus estimate of $3.40 million. Immunome had a negative net margin of 761.92% and a negative return on equity of 69.74%. As a group, sell-side analysts predict that Immunome will post -1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IMNM. Avidity Partners Management LP bought a new position in shares of Immunome during the fourth quarter worth about $14,268,000. TD Asset Management Inc acquired a new position in Immunome during the third quarter valued at approximately $1,063,000. Mayo Clinic acquired a new position in Immunome during the fourth quarter valued at approximately $1,161,000. Cerity Partners LLC acquired a new position in Immunome during the fourth quarter valued at approximately $656,000. Finally, Emfo LLC acquired a new position in Immunome during the fourth quarter valued at approximately $633,000. 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.