Immunome (NASDAQ:IMNM) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Immunome (NASDAQ:IMNM) in a report released on Tuesday,Benzinga reports. Wedbush currently has a $31.00 target price on the stock.

A number of other brokerages have also issued reports on IMNM. Leerink Partners dropped their price objective on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Truist Financial lifted their target price on shares of Immunome from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a report on Friday. HC Wainwright reissued a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Finally, Citigroup restated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.17.

Immunome Stock Performance

NASDAQ IMNM opened at $22.78 on Tuesday. The stock’s fifty day moving average is $20.98 and its two-hundred day moving average is $21.92. The firm has a market capitalization of $2.58 billion, a P/E ratio of -9.57 and a beta of 2.07. Immunome has a fifty-two week low of $8.66 and a fifty-two week high of $27.65.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.12. As a group, sell-side analysts forecast that Immunome will post -2.06 EPS for the current year.

Insider Transactions at Immunome

In related news, insider Kinney Horn sold 1,092 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $25.00, for a total value of $27,300.00. Following the sale, the insider directly owned 1,092 shares in the company, valued at approximately $27,300. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $22.62, for a total transaction of $1,244,100.00. Following the completion of the transaction, the insider directly owned 15,805 shares in the company, valued at $357,509.10. The trade was a 77.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 472,142 shares of company stock worth $10,262,648 in the last 90 days. Insiders own 7.21% of the company’s stock.

Hedge Funds Weigh In On Immunome

Several large investors have recently made changes to their positions in the stock. KBC Group NV purchased a new position in shares of Immunome during the 1st quarter worth approximately $60,000. BNP Paribas Financial Markets raised its position in 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 purchasing an additional 2,909 shares during the period. Strs Ohio purchased a new stake in Immunome in the fourth quarter valued at approximately $64,000. Tower Research Capital LLC TRC raised its position in Immunome by 121.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after purchasing an additional 3,802 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Immunome during the third quarter worth $76,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

About Immunome

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.