Piper Sandler Cuts Immunome (NASDAQ:IMNM) Price Target to $21.00

Immunome (NASDAQ:IMNM) had its price target lowered by Piper Sandler from $23.00 to $21.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently commented on IMNM. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Friday, October 25th. Stephens started coverage on shares of Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome currently has an average rating of “Buy” and a consensus target price of $28.83.

Immunome Stock Down 11.1 %

Shares of IMNM opened at $9.90 on Thursday. The company has a market cap of $617.96 million, a price-to-earnings ratio of -1.22 and a beta of 1.82. Immunome has a twelve month low of $6.93 and a twelve month high of $30.96. The company has a 50 day moving average of $13.12 and a two-hundred day moving average of $13.79.

Insider Buying and Selling

In other Immunome 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 transaction of $230,223.80. Following the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at approximately $760,090.76. This represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Immunome

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMNM. Geode Capital Management LLC lifted its stake in shares of Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock valued at $17,657,000 after buying an additional 144,557 shares during the period. Barclays PLC lifted its position in Immunome by 125.9% during the third quarter. Barclays PLC now owns 105,886 shares of the company’s stock valued at $1,547,000 after buying an additional 59,016 shares in the last quarter. XTX Topco Ltd acquired a new stake in Immunome in the 3rd quarter valued at $363,000. Wellington Management Group LLP raised its holdings in shares of Immunome by 137.1% during the 3rd quarter. Wellington Management Group LLP now owns 140,690 shares of the company’s stock valued at $2,057,000 after buying an additional 81,354 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of Immunome by 22.2% during the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock valued at $6,881,000 after purchasing an additional 85,580 shares during the period. 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.