Immunome (NASDAQ:IMNM) Stock Price Down 7% on Analyst Downgrade

Shares of Immunome, Inc. (NASDAQ:IMNM) traded down 7% during trading on Thursday after Piper Sandler lowered their price target on the stock from $23.00 to $21.00. Piper Sandler currently has an overweight rating on the stock. Immunome traded as low as $10.72 and last traded at $10.78. 270,345 shares were traded during mid-day trading, a decline of 64% from the average session volume of 751,930 shares. The stock had previously closed at $11.59.

Other equities analysts also recently issued research reports about the company. Stephens initiated 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 restated an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $28.83.

Insider Buying and Selling at Immunome

In other Immunome news, Director Jean Jacques Bienaime purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $13.94 per share, for a total transaction of $97,580.00. Following the purchase, the director now owns 16,615 shares of the company’s stock, valued at $231,613.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the transaction, the chief financial officer now owns 47,476 shares of the company’s stock, valued at approximately $760,090.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $13.94 per share, for a total transaction of $97,580.00. Following the acquisition, the director now owns 16,615 shares in the company, valued at approximately $231,613.10. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC raised its position in shares of Immunome by 21,864.0% during the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock valued at $136,000 after buying an additional 5,466 shares in the last quarter. Quest Partners LLC bought a new stake in Immunome during the second quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Immunome in the 2nd quarter worth about $97,000. Arizona State Retirement System increased its position in shares of Immunome by 9.2% during the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after purchasing an additional 918 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Immunome in the 3rd quarter worth approximately $219,000. 44.58% of the stock is currently owned by institutional investors.

Immunome Stock Performance

The company has a market cap of $647.34 million, a P/E ratio of -1.40 and a beta of 1.82. The stock has a 50-day moving average of $13.25 and a two-hundred day moving average of $13.84.

Immunome (NASDAQ:IMNM) last issued its earnings results on Monday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.11). Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. The company had revenue of $2.36 million for the quarter, compared to analysts’ expectations of $2.62 million. As a group, sell-side analysts forecast that Immunome, Inc. will post -1.92 EPS for the current fiscal year.

Immunome Company Profile

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.