Immunome (NASDAQ:IMNM) Stock Price Up 4.4% Following Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM) rose 4.4% during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $7.68 and last traded at $7.40. Approximately 229,972 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 836,334 shares. The stock had previously closed at $7.09.

Specifically, CEO Clay B. Siegall purchased 137,100 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average price of $7.29 per share, with a total value of $999,459.00. Following the transaction, the chief executive officer now owns 806,736 shares in the company, valued at $5,881,105.44. The trade was a 20.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Philip Tsai acquired 12,300 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $8.42 per share, with a total value of $103,566.00. Following the completion of the acquisition, the chief technology officer now directly owns 33,300 shares in the company, valued at approximately $280,386. This represents a 58.57 % increase in their position. The disclosure for this purchase can be found here. In related news, Director Jean Jacques Bienaime bought 7,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the acquisition, the director now directly owns 23,615 shares of the company’s stock, valued at $193,879.15. This trade represents a 42.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Lifesci Capital started coverage on Immunome in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price target for the company. Guggenheim cut their price target on shares of Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Stephens reiterated an “overweight” rating and issued a $30.00 price objective on shares of Immunome in a research note on Thursday, March 20th. Finally, Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Thursday, March 20th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $25.50.

Immunome Trading Down 4.0 %

The firm has a market cap of $607.79 million, a P/E ratio of -0.86 and a beta of 1.93. The stock’s fifty day moving average is $9.50 and its two-hundred day moving average is $11.33.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The firm had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.07 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. On average, analysts forecast that Immunome, Inc. will post -2.21 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new stake in Immunome in the fourth quarter valued at approximately $70,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Immunome during the 4th quarter valued at $75,000. AlphaQuest LLC raised its position in shares of Immunome by 786,700.0% during the 4th quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock valued at $84,000 after buying an additional 7,867 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock worth $91,000 after acquiring an additional 7,129 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Immunome in the fourth quarter worth $95,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.