Immunome (NASDAQ:IMNM) Trading Down 9.5%

Immunome, Inc. (NASDAQ:IMNM) shares fell 9.5% on Monday . The company traded as low as $12.41 and last traded at $12.48. 552,635 shares were traded during trading, a decline of 33% from the average session volume of 822,709 shares. The stock had previously closed at $13.79.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IMNM shares. Guggenheim started coverage on Immunome in a report on Monday, April 15th. They set a “buy” rating and a $35.00 price objective on the stock. Piper Sandler began coverage on shares of Immunome in a research note on Friday, May 31st. They issued an “overweight” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Immunome in a report on Tuesday, April 30th. They set an “overweight” rating and a $24.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.80.

Immunome Stock Performance

The stock has a 50-day simple moving average of $13.88 and a 200 day simple moving average of $17.68. The stock has a market capitalization of $740.92 million, a P/E ratio of -1.64 and a beta of 1.78.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.46. Immunome had a negative net margin of 1,829.44% and a negative return on equity of 37.33%. The business had revenue of $1.03 million during the quarter, compared to the consensus estimate of $4.00 million. Equities analysts predict that Immunome, Inc. will post -1.45 earnings per share for the current year.

Insider Activity

In other news, Director Jean Jacques Bienaime purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $13.57 per share, with a total value of $27,140.00. Following the acquisition, the director now directly owns 9,615 shares of the company’s stock, valued at $130,475.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC bought a new stake in shares of Immunome in the fourth quarter valued at about $656,000. Emfo LLC acquired a new position in Immunome during the fourth quarter worth $633,000. Jump Financial LLC acquired a new stake in Immunome in the 4th quarter valued at $172,000. Mayo Clinic bought a new position in shares of Immunome in the 4th quarter valued at about $1,161,000. Finally, Avidity Partners Management LP bought a new stake in shares of Immunome during the 4th quarter worth approximately $14,268,000. Institutional investors and hedge funds 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.