Immunome (NASDAQ:IMNM) Price Target Raised to $38.00

Immunome (NASDAQ:IMNM) had its target price boosted by stock analysts at Truist Financial from $37.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 41.47% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Wall Street Zen cut shares of Immunome from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Wedbush increased their price target on Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday. Leerink Partners lowered their price objective on Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Finally, Citigroup reiterated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Immunome Stock Up 2.3%

Shares of NASDAQ IMNM traded up $0.61 during trading on Wednesday, reaching $26.86. 748,237 shares of the company traded hands, compared to its average volume of 1,377,730. The firm has a 50 day simple moving average of $21.73 and a 200-day simple moving average of $22.18. Immunome has a 52-week low of $8.66 and a 52-week high of $27.75. The stock has a market capitalization of $3.04 billion, a PE ratio of -11.29 and a beta of 2.07.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). As a group, research analysts predict that Immunome will post -2.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director Isaac Barchas sold 15,248 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $26.06, for a total transaction of $397,362.88. Following the transaction, the director directly owned 72,416 shares of the company’s stock, valued at approximately $1,887,160.96. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of Immunome stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total value of $2,273,555.44. Following the sale, the insider directly owned 50,366 shares of the company’s stock, valued at approximately $1,263,682.94. This trade represents a 64.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 598,846 shares of company stock valued at $13,476,656 over the last 90 days. Insiders own 7.21% of the company’s stock.

Institutional Investors Weigh In On Immunome

A number of hedge funds have recently made changes to their positions in IMNM. Allworth Financial LP bought a new stake in shares of Immunome in the 2nd quarter valued at about $25,000. KBC Group NV purchased a new stake in Immunome during the first quarter valued at approximately $60,000. BNP Paribas Financial Markets lifted its position in Immunome by 81.8% during 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 during the last quarter. Strs Ohio acquired a new stake in Immunome in the fourth quarter valued at approximately $64,000. Finally, Tower Research Capital LLC TRC grew its holdings in Immunome by 121.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock worth $65,000 after purchasing an additional 3,802 shares during the last quarter. 44.58% of the stock is currently 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.