HC Wainwright Begins Coverage on Immunome (NASDAQ:IMNM)

HC Wainwright initiated coverage on shares of Immunome (NASDAQ:IMNM) in a report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 80.51% from the company’s current price.

A number of other analysts have also issued reports on IMNM. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research report on Thursday, January 22nd. Evercore lifted their price objective on Immunome from $18.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 16th. Leerink Partners set a $40.00 price objective on Immunome in a report on Monday, December 15th. Lake Street Capital raised their target price on Immunome from $22.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Immunome in a research report on Thursday, January 15th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.75.

Immunome Price Performance

Shares of IMNM opened at $22.16 on Thursday. The firm has a 50-day simple moving average of $22.48 and a two-hundred day simple moving average of $16.46. The stock has a market cap of $2.44 billion, a PE ratio of -7.51 and a beta of 2.32. Immunome has a 1-year low of $5.15 and a 1-year high of $27.65.

Insider Activity

In related news, Director Isaac Barchas sold 383,200 shares of Immunome stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $21.74, for a total value of $8,330,768.00. Following the completion of the transaction, the director directly owned 2,031,181 shares in the company, valued at approximately $44,157,874.94. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Clay B. Siegall purchased 4,729 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were bought at an average price of $21.15 per share, for a total transaction of $100,018.35. Following the acquisition, the chief executive officer owned 665,254 shares in the company, valued at $14,070,122.10. This trade represents a 0.72% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 68,518 shares of company stock worth $1,453,958. Corporate insiders own 7.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Immunome by 44.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company’s stock worth $316,000 after acquiring an additional 14,398 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Immunome during the 2nd quarter worth $428,000. Private Capital Advisors Inc. grew its stake in shares of Immunome by 393.1% during the second quarter. Private Capital Advisors Inc. now owns 189,844 shares of the company’s stock worth $1,766,000 after purchasing an additional 151,343 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Immunome during the second quarter worth $98,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Immunome in the second quarter valued at $793,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.