Immunome’s (IMNM) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Immunome (NASDAQ:IMNM) in a research note published on Tuesday morning,Benzinga reports. They currently have a $31.00 price objective on the stock.

IMNM has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research report on Friday, July 17th. Wall Street Zen lowered Immunome from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Leerink Partners decreased their target price on Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Citigroup reaffirmed a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Finally, HC Wainwright reissued a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.17.

Immunome Price Performance

Shares of Immunome stock opened at $22.01 on Tuesday. The firm has a market cap of $2.49 billion, a PE ratio of -9.25 and a beta of 2.07. Immunome has a 1 year low of $8.66 and a 1 year high of $27.65. The stock has a fifty day moving average price of $21.00 and a 200-day moving average price of $21.94.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.12. As a group, equities analysts anticipate that Immunome will post -2.06 EPS for the current fiscal year.

Insider Buying and Selling at Immunome

In other Immunome news, Director Jean Jacques Bienaime bought 10,500 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $19.45 per share, with a total value of $204,225.00. Following the acquisition, the director directly owned 43,415 shares of the company’s stock, valued at $844,421.75. The trade was a 31.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Lechleider sold 55,000 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total value of $1,244,100.00. Following the sale, the insider owned 15,805 shares in the company, valued at approximately $357,509.10. This represents a 77.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 472,142 shares of company stock worth $10,262,648. Company insiders own 7.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its stake in Immunome by 59.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock valued at $288,305,000 after acquiring an additional 5,003,824 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Immunome by 8,659.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock valued at $61,341,000 after purchasing an additional 2,823,144 shares during the period. Primecap Management Co. CA boosted its holdings in Immunome by 55.2% in the 4th quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock valued at $100,643,000 after purchasing an additional 1,667,432 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Immunome during the 4th quarter valued at $30,710,000. Finally, Sofinnova Investments Inc. grew its position in shares of Immunome by 271.2% during the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock valued at $34,765,000 after purchasing an additional 1,182,426 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Immunome

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.