Immunome (NASDAQ:IMNM) Shares Down 6.7% – What’s Next?

Immunome, Inc. (NASDAQ:IMNM)’s stock price was down 6.7% during mid-day trading on Tuesday . The stock traded as low as $10.35 and last traded at $10.47. Approximately 143,559 shares changed hands during trading, a decline of 86% from the average daily volume of 1,017,406 shares. The stock had previously closed at $11.22.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stephens began coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Monday, January 13th. Finally, Piper Sandler dropped their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $28.60.

Immunome Stock Down 10.3 %

The firm’s 50-day simple moving average is $11.15 and its 200-day simple moving average is $12.57. The firm has a market capitalization of $802.59 million, a PE ratio of -1.24 and a beta of 1.90.

Insider Buying and Selling at Immunome

In related news, CEO Clay B. Siegall purchased 66,057 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of $9.54 per share, with a total value of $630,183.78. Following the transaction, the chief executive officer now directly owns 485,693 shares in the company, valued at $4,633,511.22. This trade represents a 15.74 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Lechleider acquired 15,805 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of $9.48 per share, with a total value of $149,831.40. Following the transaction, the insider now owns 15,805 shares in the company, valued at $149,831.40. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 252,862 shares of company stock worth $2,140,545. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Immunome

Several institutional investors have recently bought and sold shares of IMNM. FMR LLC increased its holdings in Immunome by 0.3% in the 3rd quarter. FMR LLC now owns 4,224,700 shares of the company’s stock worth $61,765,000 after buying an additional 13,757 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Immunome by 10.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after acquiring an additional 324,614 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock valued at $17,657,000 after purchasing an additional 144,557 shares during the last quarter. Victory Capital Management Inc. lifted its position in Immunome by 48.1% during the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after purchasing an additional 237,497 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Immunome by 22.2% in the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock worth $6,881,000 after purchasing an additional 85,580 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

About Immunome

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.