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

Immunome, Inc. (NASDAQ:IMNM) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 9,790,000 shares, a decrease of 8.2% from the November 15th total of 10,670,000 shares. Currently, 19.3% of the company’s shares are short sold. Based on an average daily volume of 787,600 shares, the days-to-cover ratio is currently 12.4 days.

Wall Street Analyst Weigh In

IMNM has been the subject of a number of research reports. Piper Sandler reduced their price target on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Stephens began coverage on Immunome in a research report 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 price target on shares of Immunome in a report on Friday, October 25th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $28.83.

Insider Activity

In other Immunome news, CTO Philip Tsai purchased 21,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $9.43 per share, with a total value of $198,030.00. Following the completion of the purchase, the chief technology officer now owns 21,000 shares in the company, valued at $198,030. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clay B. Siegall acquired 66,057 shares of Immunome stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $9.54 per share, with a total value of $630,183.78. Following the transaction, the chief executive officer now owns 485,693 shares in the company, valued at approximately $4,633,511.22. This trade represents a 15.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 102,862 shares of company stock valued at $978,045. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Immunome during the 2nd quarter worth $1,095,000. Sequoia Financial Advisors LLC purchased a new position in Immunome during the second quarter worth about $206,000. Wealth Enhancement Advisory Services LLC grew its position in Immunome by 279.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 41,570 shares of the company’s stock worth $503,000 after purchasing an additional 30,617 shares in the last quarter. Clear Creek Financial Management LLC increased its stake in Immunome by 18.2% in the 2nd quarter. Clear Creek Financial Management LLC now owns 26,188 shares of the company’s stock valued at $317,000 after buying an additional 4,035 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Immunome during the 2nd quarter worth approximately $1,816,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Stock Performance

Shares of IMNM opened at $12.58 on Monday. The firm has a market capitalization of $785.21 million, a P/E ratio of -1.55 and a beta of 1.83. Immunome has a 52 week low of $6.93 and a 52 week high of $30.96. The stock has a 50 day moving average price of $12.22 and a two-hundred day moving average price of $13.44.

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.