Immunome’s (IMNM) Outperform Rating Reaffirmed at Wedbush

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a report issued on Tuesday, Benzinga reports. They currently have a $35.00 price objective on the stock. Wedbush‘s price target would indicate a potential upside of 86.47% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. William Blair assumed coverage on Immunome in a report on Friday, October 16th. They set an “outperform” rating on the stock. Wall Street Zen downgraded Immunome from a “sell” rating to a “strong sell” rating in a report on Sunday, October 4th. Citigroup restated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. HC Wainwright restated a “buy” rating on shares of Immunome in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a report on Thursday, October 15th. Thirteen research 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’s stock. Based on data from MarketBeat, Immunome presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

Immunome Price Performance

Immunome stock traded up $0.88 during midday trading on Tuesday, hitting $18.77. 1,226,154 shares of the company were exchanged, compared to its average volume of 1,365,339. The company’s fifty day moving average price is $23.22 and its 200-day moving average price is $22.51. The company has a market cap of $2.13 billion, a PE ratio of -7.42 and a beta of 2.55. Immunome has a fifty-two week low of $14.64 and a fifty-two week high of $30.06.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). On average, analysts expect that Immunome will post -2.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Isaac Barchas sold 11,048 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total value of $301,058.00. Following the completion of the sale, the director 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 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 Kinney Horn sold 90,616 shares of the company’s 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 completion of the sale, the insider 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 223,368 shares of company stock worth $5,747,142 over the last 90 days. 7.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Immunome

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC raised its position in 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. GK Wealth Management LLC purchased a new position in Immunome in the third quarter valued at about $71,000. Integrated Wealth Concepts LLC purchased a new position in Immunome in the second quarter valued at about $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Immunome in the second quarter valued at about $576,000. Finally, Readystate Asset Management LP grew its stake in Immunome by 23.3% in the second quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock valued at $34,027,000 after purchasing an additional 303,958 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.