Immunome (NASDAQ:IMNM) Shares Gap Up – Time to Buy?

Immunome, Inc. (NASDAQ:IMNM) gapped up before the market opened on Friday . The stock had previously closed at $12.54, but opened at $13.26. Immunome shares last traded at $13.42, with a volume of 126,560 shares trading hands.

Analysts Set New Price Targets

IMNM has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Immunome in a research report on Friday, October 25th. Stephens began coverage on shares of Immunome in a research note on Friday. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Piper Sandler reduced their price target on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $29.17.

Immunome Stock Up 4.1 %

The firm’s fifty day moving average price is $13.43 and its 200 day moving average price is $13.90. The stock has a market cap of $783.70 million, a PE ratio of -1.63 and a beta of 1.82.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.11). Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. The firm had revenue of $2.36 million for the quarter, compared to the consensus estimate of $2.62 million. As a group, analysts anticipate that Immunome, Inc. will post -1.92 earnings per share for the current fiscal year.

Insider Transactions at Immunome

In related news, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the completion of the sale, the chief financial officer now directly owns 47,476 shares of the company’s stock, valued at $760,090.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jack Higgins sold 3,524 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.93, for a total value of $49,089.32. Following the completion of the transaction, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Max Rosett sold 14,380 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Hedge funds and other institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC grew its stake in shares of Immunome by 21,864.0% during the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock worth $136,000 after purchasing an additional 5,466 shares during the period. Quest Partners LLC purchased a new position in Immunome in the 2nd quarter valued at $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Immunome in the 2nd quarter valued at $97,000. Arizona State Retirement System lifted its holdings in Immunome by 9.2% in the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after purchasing an additional 918 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after purchasing an additional 4,129 shares in the last quarter. Institutional investors and hedge funds 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.