Immunome (NASDAQ:IMNM) Stock Price Up 5.4% – Still a Buy?

Immunome, Inc. (NASDAQ:IMNM)’s stock price shot up 5.4% on Wednesday . The stock traded as high as $12.35 and last traded at $12.15. 124,323 shares changed hands during trading, a decline of 84% from the average session volume of 777,511 shares. The stock had previously closed at $11.53.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IMNM shares. Stephens assumed coverage on Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Piper Sandler cut 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 set a $33.00 price target on shares of Immunome in a report on Friday, October 25th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome presently has a consensus rating of “Buy” and an average price target of $28.83.

Immunome Trading Up 16.8 %

The business’s fifty day moving average price is $12.37 and its two-hundred day moving average price is $13.52. The firm has a market cap of $840.76 million, a P/E ratio of -1.66 and a beta of 1.82.

Insider Buying and Selling at Immunome

In other news, CEO Clay B. Siegall acquired 66,057 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $9.54 per share, with a total value of $630,183.78. Following the acquisition, the chief executive officer now owns 485,693 shares in the company, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Max Rosett sold 14,380 shares of Immunome stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total transaction of $230,223.80. Following the completion of the transaction, the chief financial officer now owns 47,476 shares in the company, valued at $760,090.76. This trade represents a 23.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 102,862 shares of company stock worth $978,045 over the last three months. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its stake in Immunome by 125.9% during the 3rd quarter. Barclays PLC now owns 105,886 shares of the company’s stock valued at $1,547,000 after purchasing an additional 59,016 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after buying an additional 144,557 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Immunome in the third quarter valued at approximately $363,000. Wellington Management Group LLP increased its position in Immunome by 137.1% during the third quarter. Wellington Management Group LLP now owns 140,690 shares of the company’s stock worth $2,057,000 after acquiring an additional 81,354 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in Immunome by 22.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock valued at $6,881,000 after purchasing an additional 85,580 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.

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.