Immunome (NASDAQ:IMNM) Shares Gap Up Following Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s share price gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $9.82, but opened at $11.10. Immunome shares last traded at $11.18, with a volume of 336,877 shares trading hands.

Specifically, CTO Philip Tsai acquired 21,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $9.43 per share, with a total value of $198,030.00. Following the purchase, the chief technology officer now owns 21,000 shares of the company’s stock, valued at $198,030. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Lechleider acquired 15,805 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the completion of the purchase, the insider now directly owns 15,805 shares in the company, valued at $149,831.40. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In related news, CEO Clay B. Siegall purchased 66,057 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $9.54 per share, with a total value of $630,183.78. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Piper Sandler lowered their price target on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome presently has an average rating of “Buy” and an average price target of $28.83.

Immunome Trading Up 11.6 %

The business has a 50 day simple moving average of $12.58 and a 200-day simple moving average of $13.58. The stock has a market capitalization of $684.12 million, a price-to-earnings ratio of -1.35 and a beta of 1.82.

Hedge Funds Weigh In On Immunome

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake in Immunome by 0.3% during the 3rd quarter. FMR LLC now owns 4,224,700 shares of the company’s stock valued at $61,765,000 after purchasing an additional 13,757 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Immunome by 10.3% during the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock worth $50,971,000 after buying an additional 324,614 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Immunome by 113.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after buying an additional 1,194,451 shares during the last quarter. Vanguard Group Inc. raised its holdings in Immunome by 16.1% in the first quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock valued at $49,847,000 after acquiring an additional 279,712 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after acquiring an additional 1,191,774 shares during the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.