Immunome (NASDAQ:IMNM) Given “Outperform” Rating at Wedbush

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

IMNM has been the subject of a number of other reports. 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 research note on Wednesday, August 12th. HC Wainwright reissued a “buy” rating on shares of Immunome in a research report on Tuesday. William Blair started coverage on shares of Immunome in a report on Friday, October 16th. They issued an “outperform” rating for the company. Stifel Nicolaus began coverage on shares of Immunome in a research report on Wednesday, September 30th. They issued a “hold” rating and a $24.00 price target for the company. Finally, Wall Street Zen downgraded shares of Immunome from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Immunome Price Performance

Shares of IMNM stock traded up $0.88 during mid-day trading on Tuesday, hitting $18.77. The stock had a trading volume of 1,225,454 shares, compared to its average volume of 1,365,335. Immunome has a 12-month low of $14.64 and a 12-month high of $30.06. The firm’s 50-day moving average is $23.22 and its two-hundred day moving average is $22.51. The firm has a market capitalization of $2.13 billion, a P/E ratio of -7.42 and a beta of 2.55.

Immunome (NASDAQ:IMNM) last announced 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). Analysts expect that Immunome will post -2.48 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jack Higgins sold 13,200 shares of the firm’s 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 in the company, valued at approximately $1,647,066. This trade represents a 16.87% decrease in their position. The transaction was disclosed in a filing 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, Director Isaac Barchas sold 62,291 shares of Immunome 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 in the company, valued at approximately $2,418,694.53. The trade was a 40.32% 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. Over the last ninety days, insiders sold 223,368 shares of company stock worth $5,747,142. 7.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunome

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Immunome in the second quarter valued at approximately $186,588,000. Primecap Management Co. CA purchased a new stake in shares of Immunome during the 2nd quarter valued at $97,081,000. Bank of America Corp DE purchased a new stake in shares of Immunome during the 2nd quarter valued at $13,729,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Immunome in the 2nd quarter worth $12,591,000. Finally, Wellington Management Group LLP boosted its position in shares of Immunome by 10.1% in the 2nd quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company’s stock worth $110,404,000 after purchasing an additional 478,239 shares in the last quarter. Hedge funds and other 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.