Wedbush Reaffirms “Outperform” Rating for Immunome (NASDAQ:IMNM)

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They currently have a $35.00 price target on the stock. Wedbush‘s price target indicates a potential upside of 85.63% from the stock’s current price.

A number of other research analysts also recently issued reports on IMNM. HC Wainwright restated a “buy” rating on shares of Immunome in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research report on Thursday, October 15th. Citigroup restated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Stifel Nicolaus assumed coverage on shares of Immunome in a research report on Wednesday, September 30th. They issued a “hold” rating and a $24.00 price target on the stock. Finally, Truist Financial raised their price target on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.25.

Immunome Stock Up 5.4%

Shares of Immunome stock traded up $0.97 during trading hours on Tuesday, hitting $18.86. The company’s stock had a trading volume of 621,163 shares, compared to its average volume of 1,362,260. Immunome has a 1-year low of $14.64 and a 1-year high of $30.06. The business has a fifty day moving average of $23.22 and a 200 day moving average of $22.51. The company has a market capitalization of $2.14 billion, a PE ratio of -7.44 and a beta of 2.55.

Immunome (NASDAQ:IMNM) last released 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, sell-side analysts anticipate that Immunome will post -2.48 earnings per share for the current fiscal year.

Insider Activity at Immunome

In related news, insider Kinney Horn sold 90,616 shares of Immunome stock in a transaction dated 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 sale, the insider directly owned 50,366 shares in the company, valued at $1,263,682.94. This trade represents a 64.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 13,200 shares of Immunome 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 owned 65,050 shares in the company, valued at approximately $1,647,066. This represents a 16.87% decrease in their ownership of the stock. 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. Insiders have sold a total of 223,368 shares of company stock worth $5,747,142 in the last ninety days. 7.21% of the stock is owned by insiders.

Institutional Trading of Immunome

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Immunome during the 1st quarter worth about $1,507,000. Readystate Asset Management LP raised its position in shares of Immunome by 23.3% during the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock worth $34,027,000 after buying an additional 303,958 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Immunome by 66.3% during the 1st quarter. California State Teachers Retirement System now owns 111,444 shares of the company’s stock worth $2,437,000 after buying an additional 44,432 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Immunome during the 2nd quarter worth about $1,899,000. Finally, Bank of America Corp DE bought a new stake in shares of Immunome during the 2nd quarter worth about $13,729,000. 44.58% of the stock is currently owned by institutional investors.

Immunome Company Profile

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.