Immunome, Inc. (NASDAQ:IMNM) Short Interest Update

Immunome, Inc. (NASDAQ:IMNM) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 9,870,000 shares, an increase of 12.2% from the December 15th total of 8,800,000 shares. Based on an average daily volume of 787,000 shares, the short-interest ratio is currently 12.5 days. Approximately 19.2% of the shares of the company are short sold.

Immunome Stock Up 1.3 %

Shares of NASDAQ IMNM opened at $9.99 on Monday. The company has a market cap of $623.58 million, a price-to-earnings ratio of -1.23 and a beta of 1.90. Immunome has a 12-month low of $8.97 and a 12-month high of $30.96. The firm’s 50-day simple moving average is $11.47 and its 200 day simple moving average is $12.92.

Insider Activity

In other Immunome news, insider Robert Lechleider bought 15,805 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the transaction, the insider now owns 15,805 shares in the company, valued at approximately $149,831.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Clay B. Siegall bought 66,057 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, with a total value of $630,183.78. Following the completion of the acquisition, the chief executive officer now owns 485,693 shares in the company, valued at $4,633,511.22. This represents a 15.74 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 102,862 shares of company stock worth $978,045. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its position in Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after purchasing an additional 4,129 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Immunome in the 3rd quarter valued at $219,000. Profund Advisors LLC acquired a new position in shares of Immunome during the second quarter valued at $262,000. JPMorgan Chase & Co. lifted its stake in shares of Immunome by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after acquiring an additional 1,520 shares during the period. Finally, XTX Topco Ltd bought a new position in Immunome in the third quarter valued at about $363,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stephens initiated coverage on Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective for the company. 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. Finally, Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research report on Monday, January 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $28.83.

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.