Immunome (NASDAQ:IMNM) Stock Falls 6.6% – Should You Sell?

Immunome, Inc. (NASDAQ:IMNM)’s share price dropped 6.6% on Tuesday. The company traded as low as $19.84 and last traded at $19.7820. Approximately 448,182 shares changed hands during trading, a decline of 67% from the average session volume of 1,350,658 shares. The stock had previously closed at $21.17.

Analyst Upgrades and Downgrades

IMNM has been the subject of several recent analyst reports. Alliance Global Partners began coverage on shares of Immunome in a research report on Monday, September 21st. They issued a “buy” rating and a $32.00 target price for the company. Wedbush raised their target price on Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Truist Financial upped their price objective on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Immunome in a report on Thursday, September 10th. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.25.

Immunome Stock Performance

The business’s 50 day moving average is $25.32 and its 200-day moving average is $22.88. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -7.69 and a beta of 2.55.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). Equities research analysts forecast that Immunome, Inc. will post -2.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jack Higgins sold 13,200 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the transaction, the insider directly owned 65,050 shares in the company, valued at $1,647,066. The trade was a 16.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the business’s stock in a transaction that occurred 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 owned 50,366 shares in the company, valued at approximately $1,263,682.94. This 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 have sold a total of 223,368 shares of company stock valued at $5,747,142 over the last three months. 7.21% of the stock is owned by corporate insiders.

Institutional Trading of Immunome

Several large investors have recently added to or reduced their stakes in IMNM. Allworth Financial LP bought a new stake in Immunome during the 2nd quarter worth approximately $25,000. Integrated Wealth Concepts LLC acquired a new position in Immunome during the second quarter valued at approximately $27,000. KBC Group NV acquired a new stake in Immunome during the 1st quarter worth $60,000. Assetmark Inc. lifted its stake in Immunome by 46.6% in the first quarter. Assetmark Inc. now owns 4,535 shares of the company’s stock valued at $99,000 after buying an additional 1,442 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Immunome during the second quarter worth about $109,000. 44.58% of the stock is owned by institutional investors.

About Immunome

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome’s research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.