Immunome (NASDAQ:IMNM) Shares Down 5.2%

Immunome, Inc. (NASDAQ:IMNM)’s stock price fell 5.2% during trading on Tuesday . The company traded as low as $11.50 and last traded at $11.57. 253,007 shares traded hands during trading, a decline of 71% from the average session volume of 857,751 shares. The stock had previously closed at $12.20.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IMNM. Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Tuesday, May 14th. Guggenheim began coverage on Immunome in a research note on Monday, April 15th. They set a “buy” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Immunome in a research note on Tuesday, April 30th. They set an “overweight” rating and a $24.00 price target on the stock. Finally, Piper Sandler initiated coverage on Immunome in a research note on Friday, May 31st. They issued an “overweight” rating and a $27.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $29.80.

Immunome Stock Up 3.6 %

The firm has a 50 day moving average price of $14.19 and a 200-day moving average price of $17.16.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.46. Immunome had a negative return on equity of 37.33% and a negative net margin of 1,829.44%. The company had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $4.00 million. Analysts anticipate that Immunome, Inc. will post -1.45 EPS for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, Director Jean Jacques Bienaime purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $13.57 per share, for a total transaction of $27,140.00. Following the completion of the purchase, the director now directly owns 9,615 shares in the company, valued at $130,475.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Immunome

Several hedge funds have recently made changes to their positions in IMNM. Cerity Partners LLC purchased a new position in shares of Immunome during the fourth quarter worth about $656,000. Emfo LLC purchased a new position in shares of Immunome during the fourth quarter worth about $633,000. Jump Financial LLC purchased a new position in shares of Immunome during the fourth quarter worth about $172,000. Mayo Clinic purchased a new position in shares of Immunome during the fourth quarter worth about $1,161,000. Finally, Avidity Partners Management LP purchased a new position in shares of Immunome during the fourth quarter worth about $14,268,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.