Craig Hallum Forecasts Strong Price Appreciation for Immunome (NASDAQ:IMNM) Stock

Immunome (NASDAQ:IMNM) had its price objective lifted by investment analysts at Craig Hallum from $33.00 to $36.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 71.84% from the company’s current price.

A number of other brokerages also recently commented on IMNM. Wall Street Zen upgraded shares of Immunome from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Guggenheim raised their price target on Immunome from $25.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a report on Thursday, January 22nd. Evercore raised their target price on Immunome from $18.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. Finally, Truist Financial assumed coverage on shares of Immunome in a research note on Monday, December 1st. They set a “buy” rating and a $36.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Immunome currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Immunome Price Performance

Shares of NASDAQ IMNM opened at $20.95 on Wednesday. The stock has a fifty day moving average price of $22.75 and a 200 day moving average price of $17.60. Immunome has a 1-year low of $5.15 and a 1-year high of $27.65. The company has a market cap of $2.31 billion, a PE ratio of -8.66 and a beta of 2.12.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.10). Immunome had a negative return on equity of 57.61% and a negative net margin of 1,687.08%. Analysts anticipate that Immunome will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunome

In other Immunome news, CEO Clay B. Siegall bought 4,729 shares of the company’s stock in a transaction on Tuesday, December 30th. The stock was purchased at an average cost of $21.15 per share, for a total transaction of $100,018.35. Following the acquisition, the chief executive officer owned 665,254 shares of the company’s stock, valued at $14,070,122.10. The trade was a 0.72% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Isaac Barchas sold 383,200 shares of Immunome stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $21.74, for a total transaction of $8,330,768.00. Following the transaction, the director owned 2,031,181 shares of the company’s stock, valued at approximately $44,157,874.94. The trade was a 15.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have bought 68,518 shares of company stock valued at $1,453,958. Insiders own 7.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Assetmark Inc. purchased a new stake in Immunome in the 3rd quarter valued at approximately $39,000. BNP Paribas Financial Markets lifted its position in shares of Immunome by 81.8% in the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock valued at $60,000 after acquiring an additional 2,909 shares in the last quarter. Strs Ohio purchased a new stake in shares of Immunome in the fourth quarter valued at $64,000. Tower Research Capital LLC TRC boosted its stake in shares of Immunome by 121.2% during the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after acquiring an additional 3,802 shares during the last quarter. Finally, BIT Capital GmbH purchased a new stake in Immunome during the 3rd quarter worth about $69,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.