Immunome (NASDAQ:IMNM) Stock Rating Reaffirmed as “Outperform” by Wedbush

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $35.00 target price on the stock. Wedbush‘s price target indicates a potential upside of 87.36% from the stock’s current price.

Several other research firms also recently weighed in on IMNM. HC Wainwright restated a “buy” rating on shares of Immunome in a report on Tuesday. William Blair assumed coverage on shares of Immunome in a report on Friday, October 16th. They set an “outperform” rating on the stock. Alliance Global Partners assumed coverage on shares of Immunome in a research note on Monday, September 21st. They issued a “buy” rating and a $32.00 target price for the company. Wall Street Zen lowered shares of Immunome from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Finally, Citigroup restated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Immunome presently has an average rating of “Moderate Buy” and an average target price of $34.25.

Immunome Trading Up 4.4%

IMNM traded up $0.79 during trading on Tuesday, reaching $18.68. 556,659 shares of the company’s stock were exchanged, compared to its average volume of 1,362,044. The stock has a market capitalization of $2.12 billion, a PE ratio of -7.36 and a beta of 2.55. Immunome has a one year low of $14.64 and a one year high of $30.06. The firm 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 issued its quarterly 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). Sell-side analysts expect that Immunome will post -2.48 earnings per share for the current year.

Insider Transactions at Immunome

In other news, insider Jack Higgins sold 13,200 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $25.32, for a total value of $334,224.00. Following the sale, 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. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $27.25, for a total transaction of $301,058.00. Following the completion of the sale, the director directly owned 92,211 shares in the company, valued at $2,512,749.75. This represents a 10.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 223,368 shares of company stock valued at $5,747,142. 7.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMNM. Allworth Financial LP purchased a new position in shares of Immunome during the second quarter valued at about $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Immunome during the second quarter valued at about $27,000. KBC Group NV purchased a new position in shares of Immunome during the first quarter valued at about $60,000. GK Wealth Management LLC purchased a new position in shares of Immunome during the third quarter valued at about $71,000. Finally, Sterling Capital Management LLC increased its position in shares of Immunome by 840.0% during the third quarter. Sterling Capital Management LLC now owns 3,478 shares of the company’s stock valued at $75,000 after buying an additional 3,108 shares during the period. Institutional investors own 44.58% of the company’s stock.

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.