Immunome, Inc. (NASDAQ:IMNM) Stock Has Consensus Target Price of $34.25

Immunome, Inc. (NASDAQ:IMNM) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $34.25.

A number of research analysts have recently issued reports on the company. Alliance Global Partners initiated coverage on Immunome in a report on Monday, September 21st. They issued a “buy” rating and a $32.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $35.00 price target on shares of Immunome in a research report on Tuesday, October 27th. William Blair initiated coverage on Immunome in a research note on Friday, October 16th. They set an “outperform” rating for the company. Stifel Nicolaus initiated coverage on Immunome in a research report on Wednesday, September 30th. They set a “hold” rating and a $24.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of Immunome in a research note on Tuesday, October 27th.

Immunome Stock Performance

Immunome stock opened at $17.91 on Friday. The company has a 50 day moving average price of $21.69 and a 200-day moving average price of $22.42. Immunome has a fifty-two week low of $14.64 and a fifty-two week high of $30.06. The company has a market capitalization of $2.03 billion, a PE ratio of -7.08 and a beta of 2.68.

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

Insider Activity

In other Immunome 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 transaction of $334,224.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 dated 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 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 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 three months, insiders have sold 96,664 shares of company stock valued at $2,533,134. Insiders own 7.21% of the company’s stock.

Institutional Trading of Immunome

A number of institutional investors have recently made changes to their positions in IMNM. BlackRock Inc. purchased a new position in shares of Immunome in the second quarter worth about $186,588,000. Wellington Management Group LLP raised its position in Immunome by 10.1% during the 2nd quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company’s stock worth $110,404,000 after buying an additional 478,239 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Immunome during the 2nd quarter valued at approximately $97,081,000. Readystate Asset Management LP lifted its stake in Immunome by 23.3% during the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock valued at $34,027,000 after acquiring an additional 303,958 shares during the period. Finally, Bank of America Corp DE lifted its stake in Immunome by 285.6% during the 1st quarter. Bank of America Corp DE now owns 781,607 shares of the company’s stock valued at $17,094,000 after acquiring an additional 578,890 shares during the period. Institutional investors and hedge funds 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.