Immunome (NASDAQ:IMNM) Stock Price Down 5.7% – Should You Sell?

Immunome, Inc. (NASDAQ:IMNM)’s stock price was down 5.7% during trading on Tuesday. The company traded as low as $18.17 and last traded at $18.06. 163,892 shares changed hands during trading, a decline of 88% from the average session volume of 1,352,647 shares. The stock had previously closed at $19.15.

Analysts Set New Price Targets

IMNM has been the topic of several research reports. Truist Financial boosted their price objective on shares of Immunome from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Stifel Nicolaus began coverage on Immunome in a report on Wednesday, September 30th. They set a “hold” rating and a $24.00 target price for the company. Wall Street Zen cut Immunome from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Alliance Global Partners assumed coverage on Immunome in a research note on Monday, September 21st. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research note on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.25.

Immunome Stock Performance

The business has a 50-day simple moving average of $24.63 and a two-hundred day simple moving average of $22.79. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -6.80 and a beta of 2.55.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). On average, analysts expect that Immunome, Inc. will post -2.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jack Higgins sold 13,200 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $25.32, for a total value of $334,224.00. Following the completion of the transaction, the insider owned 65,050 shares of the company’s stock, valued at approximately $1,647,066. This trade represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $2,273,555.44. Following the completion of 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 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. Over the last 90 days, insiders sold 223,368 shares of company stock worth $5,747,142. 7.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Immunome

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Immunome in the second quarter valued at approximately $186,588,000. Primecap Management Co. CA acquired a new position in shares of Immunome during the 2nd quarter worth approximately $97,081,000. ExodusPoint Capital Management LP acquired a new position in shares of Immunome during the 4th quarter worth approximately $16,745,000. Bank of America Corp DE acquired a new position in shares of Immunome during the 2nd quarter worth approximately $13,729,000. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of Immunome in the 2nd quarter valued at approximately $12,591,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.