Immunome (NASDAQ:IMNM) Given Outperform Rating at Wedbush

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Tuesday, Benzinga reports. They currently have a $35.00 target price on the stock. Wedbush‘s price objective would suggest a potential upside of 86.47% from the stock’s current price.

Several other analysts also recently weighed in on the company. Citigroup restated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Stifel Nicolaus started coverage on shares of Immunome in a report on Wednesday, September 30th. They issued a “hold” rating and a $24.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research note on Thursday, October 15th. Wall Street Zen lowered Immunome from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Finally, Alliance Global Partners started coverage on Immunome in a research report on Monday, September 21st. They issued a “buy” rating and a $32.00 target price on the stock. Thirteen 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. According to MarketBeat, Immunome presently has a consensus rating of “Moderate Buy” and an average price target of $34.25.

Immunome Stock Performance

NASDAQ IMNM traded up $0.88 on Tuesday, hitting $18.77. 1,225,654 shares of the stock were exchanged, compared to its average volume of 1,365,335. Immunome has a 52-week low of $14.64 and a 52-week high of $30.06. The firm has a market capitalization of $2.13 billion, a P/E ratio of -7.42 and a beta of 2.55. The stock has a fifty day moving average price of $23.22 and a two-hundred day moving average price of $22.51.

Immunome (NASDAQ:IMNM) last released its 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). Sell-side analysts expect that Immunome will post -2.48 earnings per share for the current fiscal year.

Insider Transactions at Immunome

In other news, Director Isaac Barchas sold 62,291 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.23, for a total transaction of $1,633,892.93. Following the completion of the transaction, the director directly owned 92,211 shares of the company’s stock, valued at $2,418,694.53. This represents a 40.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 13,200 shares of the 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 directly owned 65,050 shares of the company’s stock, valued at approximately $1,647,066. This represents a 16.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 223,368 shares of company stock valued at $5,747,142 in the last three months. 7.21% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

Several large investors have recently added to or reduced their stakes in IMNM. Allworth Financial LP purchased a new stake in shares of Immunome during the 2nd quarter valued at approximately $25,000. Integrated Wealth Concepts LLC acquired a new position in Immunome in the 2nd quarter valued at about $27,000. KBC Group NV purchased a new position in shares of Immunome in the 1st quarter valued at about $60,000. GK Wealth Management LLC purchased a new position in shares of Immunome in the 3rd quarter valued at about $71,000. Finally, Sterling Capital Management LLC lifted its stake in Immunome by 840.0% during the third quarter. Sterling Capital Management LLC now owns 3,478 shares of the company’s stock worth $75,000 after purchasing an additional 3,108 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc (NASDAQ: IMNM) is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines. Its technology platform analyzes human immune responses to identify antibodies that may be developed into therapies for serious diseases.

The company’s research activities have included therapeutic programs in oncology and immunology, with an emphasis on antibodies designed to affect disease-driving biological pathways. Immunome has also conducted antibody discovery work related to infectious diseases, including SARS-CoV-2, as it has expanded its focus toward broader therapeutic applications.

Immunome is headquartered in Exton, Pennsylvania, and serves the global biopharmaceutical market through internal research and development activities and potential collaborations.