Immunome (NASDAQ:IMNM) Shares Gap Up After Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $13.65, but opened at $14.90. Immunome shares last traded at $15.00, with a volume of 190,794 shares traded.

Specifically, Director Jean Jacques Bienaime purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $13.57 per share, with a total value of $27,140.00. Following the purchase, the director now directly owns 9,615 shares of the company’s stock, valued at approximately $130,475.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on IMNM. JPMorgan Chase & Co. began coverage on shares of Immunome in a research note on Tuesday, April 30th. They issued an “overweight” rating and a $24.00 target price for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Immunome in a research note on Monday, January 29th. Wedbush reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research note on Tuesday, May 14th. Guggenheim assumed coverage on shares of Immunome in a research note on Monday, April 15th. They set a “buy” rating and a $35.00 price objective for the company. Finally, SVB Leerink assumed coverage on shares of Immunome in a research note on Monday, January 29th. They set an “outperform” rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $30.50.

Immunome Trading Down 0.6 %

The stock has a fifty day moving average price of $18.27 and a 200-day moving average price of $15.91.

Immunome (NASDAQ:IMNM) last issued its earnings results on Thursday, March 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). Immunome had a negative return on equity of 37.33% and a negative net margin of 1,829.44%. The firm had revenue of $3.83 million for the quarter, compared to analysts’ expectations of $3.40 million. As a group, research analysts expect that Immunome, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Immunome

A number of institutional investors have recently modified their holdings of IMNM. Redmile Group LLC boosted its holdings in Immunome by 26.0% in the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock worth $120,674,000 after acquiring an additional 1,010,139 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after acquiring an additional 1,194,451 shares during the period. Vanguard Group Inc. boosted its holdings in Immunome by 16.1% in the 1st quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock worth $49,847,000 after acquiring an additional 279,712 shares during the period. Janus Henderson Group PLC boosted its holdings in Immunome by 10.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,538,414 shares of the company’s stock worth $37,957,000 after acquiring an additional 146,943 shares during the period. Finally, Avidity Partners Management LP purchased a new position in Immunome in the 4th quarter worth approximately $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.