Immunome (NASDAQ:IMNM) Trading 5.4% Higher – Here’s Why

Shares of Immunome, Inc. (NASDAQ:IMNM) traded up 5.4% during trading on Wednesday . The company traded as high as $12.35 and last traded at $12.15. 124,323 shares traded hands during mid-day 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 research analysts recently commented on the company. Stephens initiated 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. Wedbush restated an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Friday, October 25th. Finally, Piper Sandler decreased their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $28.83.

Immunome Stock Performance

The firm has a market cap of $840.76 million, a price-to-earnings ratio of -1.66 and a beta of 1.82. The business’s 50-day moving average is $12.37 and its 200-day moving average is $13.52.

Insider Transactions at Immunome

In related news, CFO Max Rosett sold 14,380 shares of Immunome stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.01, for a total value of $230,223.80. Following the completion of the transaction, the chief financial officer now directly owns 47,476 shares of the company’s stock, valued at $760,090.76. The trade was a 23.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Clay B. Siegall acquired 66,057 shares of the stock in a transaction on Thursday, November 21st. The stock was bought at an average price of $9.54 per share, with a total value of $630,183.78. Following the transaction, the chief executive officer now directly owns 485,693 shares in the company, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 102,862 shares of company stock valued at $978,045. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Large investors have recently modified their holdings of the stock. Arizona State Retirement System raised its position in Immunome by 9.2% in the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares during the last quarter. Clear Creek Financial Management LLC increased its stake in shares of 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 period. AQR Capital Management LLC raised its position in shares of Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after acquiring an additional 4,129 shares during the last quarter. Cerity Partners LLC boosted its holdings in Immunome by 10.5% in the third quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock valued at $776,000 after acquiring an additional 5,043 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Immunome in the second quarter valued at about $81,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

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.