Insider Selling: Immunome (NASDAQ:IMNM) Insider Sells $2,273,555.44 in Stock

Immunome, Inc. (NASDAQ:IMNM) insider Kinney Horn sold 90,616 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total value of $2,273,555.44. Following the sale, the insider owned 50,366 shares in the company, valued at $1,263,682.94. The trade was a 64.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kinney Horn also recently made the following trade(s):

• On Tuesday, July 7th, Kinney Horn sold 1,092 shares of Immunome stock. The shares were sold at an average price of $25.00, for a total value of $27,300.00.

Immunome Stock Down 3.1%

Shares of NASDAQ IMNM opened at $25.03 on Friday. The firm’s 50-day simple moving average is $21.49 and its 200 day simple moving average is $22.16. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -10.52 and a beta of 2.08. Immunome, Inc. has a 12-month low of $8.66 and a 12-month high of $27.65.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.12. On average, equities analysts expect that Immunome, Inc. will post -2.06 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on IMNM. Leerink Partners lowered their price target 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. Wall Street Zen lowered Immunome from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research note on Friday, July 17th. Truist Financial boosted their target price on Immunome from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Barclays initiated coverage on Immunome in a research note on Thursday, May 28th. They set an “overweight” rating and a $36.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.18.

Institutional Investors Weigh In On Immunome

A number of institutional investors and hedge funds have recently modified their holdings of the business. Citizens Financial Group Inc. RI acquired a new position in Immunome in the second quarter valued at approximately $424,000. BlackRock Inc. acquired a new stake in Immunome during the 2nd quarter worth $186,588,000. Deutsche Bank AG acquired a new stake in Immunome during the 2nd quarter worth $2,365,000. Bank of New York Mellon Corp bought a new stake in shares of Immunome during the 2nd quarter valued at $6,333,000. Finally, State of Wyoming bought a new stake in shares of Immunome during the 2nd quarter valued at $109,000. 44.58% of the stock is owned by institutional investors.

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.