Immunome (NASDAQ:IMNM) Reaches New 52-Week Low – Here’s What Happened

Immunome, Inc. (NASDAQ:IMNM)’s share price hit a new 52-week low on Monday . The company traded as low as $6.41 and last traded at $6.58, with a volume of 94321 shares changing hands. The stock had previously closed at $6.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IMNM shares. Lifesci Capital assumed coverage on Immunome in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 target price on the stock. Guggenheim lowered their target price on Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of Immunome in a research report on Thursday, March 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Thursday, March 20th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.50.

Immunome Stock Performance

The company has a fifty day moving average of $9.36 and a two-hundred day moving average of $11.16. The company has a market cap of $544.31 million, a PE ratio of -0.77 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last announced its earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The firm had revenue of $2.74 million during the quarter, compared to analysts’ expectations of $3.07 million. On average, equities analysts forecast that Immunome, Inc. will post -2.21 EPS for the current year.

Insiders Place Their Bets

In other Immunome news, Director Jean Jacques Bienaime bought 7,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the transaction, the director now owns 23,615 shares in the company, valued at $193,879.15. This trade represents a 42.13 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clay B. Siegall bought 150,000 shares of the stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $7.75 per share, with a total value of $1,162,500.00. Following the completion of the purchase, the chief executive officer now directly owns 669,636 shares of the company’s stock, valued at approximately $5,189,679. This trade represents a 28.87 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 306,400 shares of company stock valued at $2,322,995 over the last 90 days. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

A number of institutional investors have recently modified their holdings of the stock. Enavate Sciences GP LLC bought a new position in Immunome in the fourth quarter worth approximately $36,939,000. JPMorgan Chase & Co. lifted its holdings in shares of Immunome by 2,540.4% in the 4th quarter. JPMorgan Chase & Co. now owns 648,610 shares of the company’s stock worth $6,888,000 after buying an additional 624,045 shares during the period. Janus Henderson Group PLC grew its position in shares of 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 in the last quarter. Granahan Investment Management LLC purchased a new position in shares of Immunome during the fourth quarter valued at $3,337,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Immunome by 2,696.5% in the fourth quarter. Renaissance Technologies LLC now owns 316,000 shares of the company’s stock valued at $3,356,000 after acquiring an additional 304,700 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other 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.