Craig Hallum Issues Positive Forecast for Immunome (NASDAQ:IMNM) Stock Price

Immunome (NASDAQ:IMNM) had its target price lifted by Craig Hallum from $33.00 to $36.00 in a research note published on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other brokerages have also issued reports on IMNM. Wedbush reissued an “outperform” rating and issued a $31.00 target price on shares of Immunome in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a research note on Thursday, January 22nd. Leerink Partners set a $40.00 price objective on Immunome in a report on Monday, December 15th. Stephens lowered their target price on Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Truist Financial assumed coverage on Immunome in a research report on Monday, December 1st. They issued a “buy” rating and a $36.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Immunome Price Performance

NASDAQ IMNM opened at $22.52 on Wednesday. The firm’s 50-day moving average is $22.78 and its two-hundred day moving average is $17.58. Immunome has a 12 month low of $5.15 and a 12 month high of $27.65. The stock has a market capitalization of $2.48 billion, a P/E ratio of -9.31 and a beta of 2.12.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.10). Immunome had a negative net margin of 1,687.08% and a negative return on equity of 75.83%. As a group, analysts anticipate that Immunome will post -2.21 EPS for the current year.

Insider Buying and Selling

In related news, Director Isaac Barchas sold 383,200 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $21.74, for a total value of $8,330,768.00. Following the transaction, the director owned 2,031,181 shares in the company, valued at $44,157,874.94. The trade was a 15.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Philip Tsai acquired 10,000 shares of Immunome stock in a transaction on Friday, December 19th. The shares were bought at an average cost of $20.49 per share, with a total value of $204,900.00. Following the completion of the purchase, the insider owned 43,300 shares in the company, valued at $887,217. The trade was a 30.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 68,518 shares of company stock worth $1,453,958 in the last 90 days. Company insiders own 7.69% of the company’s stock.

Institutional Investors Weigh In On Immunome

Large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in Immunome by 59.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock valued at $288,305,000 after buying an additional 5,003,824 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Immunome by 23.4% in the fourth quarter. Vanguard Group Inc. now owns 6,038,414 shares of the company’s stock valued at $129,705,000 after acquiring an additional 1,144,788 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Immunome by 55.2% during the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock worth $100,643,000 after acquiring an additional 1,667,432 shares during the period. State Street Corp increased its stake in shares of Immunome by 37.9% during the fourth quarter. State Street Corp now owns 3,868,000 shares of the company’s stock worth $83,085,000 after acquiring an additional 1,064,027 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Immunome by 8,659.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock worth $61,341,000 after purchasing an additional 2,823,144 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.