Immunome’s (IMNM) Buy Rating Reaffirmed at Guggenheim

Guggenheim reissued their buy rating on shares of Immunome (NASDAQ:IMNM) in a report published on Monday morning,Benzinga reports. The firm currently has a $25.00 price target on the stock.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Immunome from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Wedbush restated an “outperform” rating and set a $21.00 target price on shares of Immunome in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Immunome from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Evercore ISI initiated coverage on shares of Immunome in a report on Friday. They set an “outperform” rating and a $18.00 target price for the company. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.50.

Immunome Stock Down 3.7%

Immunome stock opened at $9.92 on Monday. The stock has a market capitalization of $863.49 million, a PE ratio of -3.22 and a beta of 1.93. Immunome has a twelve month low of $5.15 and a twelve month high of $16.73. The company has a 50 day moving average of $9.70 and a 200-day moving average of $8.86.

Immunome (NASDAQ:IMNM) last announced its earnings results on Wednesday, August 6th. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.02. Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.10%. The business had revenue of $4.02 million during the quarter, compared to analysts’ expectations of $1.03 million. Equities analysts anticipate that Immunome will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jean Jacques Bienaime purchased 5,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $9.38 per share, for a total transaction of $46,900.00. Following the completion of the purchase, the director directly owned 36,415 shares in the company, valued at $341,572.70. The trade was a 15.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Immunome

A number of large investors have recently added to or reduced their stakes in IMNM. Wells Fargo & Company MN raised its position in shares of Immunome by 45.5% in the fourth quarter. Wells Fargo & Company MN now owns 26,207 shares of the company’s stock valued at $278,000 after purchasing an additional 8,190 shares during the period. Raymond James Financial Inc. bought a new position in shares of Immunome in the fourth quarter valued at about $274,000. MetLife Investment Management LLC raised its position in shares of Immunome by 17.7% in the fourth quarter. MetLife Investment Management LLC now owns 35,619 shares of the company’s stock valued at $378,000 after purchasing an additional 5,354 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Immunome by 482.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock valued at $91,000 after purchasing an additional 7,129 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Immunome by 12.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,282,754 shares of the company’s stock valued at $24,243,000 after purchasing an additional 246,447 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.