Immunome, Inc. (NASDAQ:IMNM) Sees Significant Drop in Short Interest

Immunome, Inc. (NASDAQ:IMNM) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 9,070,000 shares, a decline of 13.9% from the January 15th total of 10,540,000 shares. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is presently 9.1 days. Approximately 13.0% of the shares of the stock are short sold.

Immunome Trading Down 0.3 %

IMNM traded down $0.03 on Friday, reaching $10.40. The company’s stock had a trading volume of 517,024 shares, compared to its average volume of 1,092,477. Immunome has a 1 year low of $8.97 and a 1 year high of $30.96. The business’s 50 day moving average is $10.91 and its 200 day moving average is $12.43.

Insiders Place Their Bets

In related news, CEO Clay B. Siegall acquired 150,000 shares of Immunome stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the transaction, the chief executive officer now directly owns 669,636 shares of the company’s stock, valued at $5,189,679. The trade was a 28.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert Lechleider bought 15,805 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $9.48 per share, with a total value of $149,831.40. Following the completion of the purchase, the insider now directly owns 15,805 shares of the company’s stock, valued at approximately $149,831.40. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 252,862 shares of company stock worth $2,140,545. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in Immunome by 0.3% during the 3rd quarter. FMR LLC now owns 4,224,700 shares of the company’s stock worth $61,765,000 after buying an additional 13,757 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Immunome by 10.3% during the 3rd 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Immunome by 12.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,282,754 shares of the company’s stock worth $24,243,000 after purchasing an additional 246,447 shares during the period. Geode Capital Management LLC raised its position in shares of Immunome by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,228,851 shares of the company’s stock worth $13,054,000 after purchasing an additional 21,396 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Immunome by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after purchasing an additional 237,497 shares during the period. Institutional investors own 44.58% of the company’s stock.

Wall Street Analysts Forecast Growth

IMNM has been the subject of several research analyst reports. Piper Sandler dropped their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Stephens assumed coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Monday, January 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome presently has a consensus rating of “Buy” and an average target price of $28.60.

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.