Immunome (NASDAQ:IMNM) Shares Down 3.3%

Shares of Immunome, Inc. (NASDAQ:IMNM) dropped 3.3% during trading on Friday . The stock traded as low as $16.44 and last traded at $16.61. Approximately 316,731 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 692,392 shares. The stock had previously closed at $17.18.

Wall Street Analyst Weigh In

IMNM has been the topic of several analyst reports. SVB Leerink initiated coverage on Immunome in a report on Monday, January 29th. They issued an “outperform” rating and a $30.00 target price on the stock. Wedbush upped their target price on Immunome from $27.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Leerink Partnrs reiterated an “outperform” rating on shares of Immunome in a report on Monday, January 29th. Finally, Guggenheim initiated coverage on Immunome in a report on Monday. They issued a “buy” rating and a $35.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.67.

Immunome Stock Performance

The business has a fifty day moving average of $23.03 and a 200-day moving average of $14.81. The company has a market capitalization of $957.43 million, a P/E ratio of -3.00 and a beta of 1.66.

Hedge Funds Weigh In On Immunome

A number of large investors have recently modified their holdings of IMNM. TD Asset Management Inc purchased a new stake in Immunome in the 3rd quarter valued at $1,063,000. Acadian Asset Management LLC purchased a new stake in Immunome in the 3rd quarter valued at $414,000. Emfo LLC purchased a new stake in Immunome in the 4th quarter valued at $633,000. Dorsey Wright & Associates purchased a new stake in Immunome in the 3rd quarter valued at $26,000. Finally, Renaissance Technologies LLC purchased a new stake in Immunome in the 1st quarter valued at $80,000. 44.58% of the stock is currently owned by institutional investors.

Immunome Company Profile

Immunome, Inc operates as a biotechnology company that develops targeted cancer therapies. Its portfolio includes immunotherapies, targeted effectors, radioligand therapies, and antibody drug conjugates (ADCs). The company also offers rapid screening of novel antibodies and targets through memory B cell hybridoma technology.