What is Wedbush’s Estimate for Immunome FY2024 Earnings?

Immunome, Inc. (NASDAQ:IMNM) – Investment analysts at Wedbush boosted their FY2024 earnings estimates for Immunome in a research note issued on Wednesday, November 13th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($2.11) for the year, up from their prior estimate of ($2.23). Wedbush has a “Outperform” rating and a $33.00 price target on the stock. The consensus estimate for Immunome’s current full-year earnings is ($2.13) per share. Wedbush also issued estimates for Immunome’s Q4 2024 earnings at ($0.70) EPS, Q1 2025 earnings at ($0.72) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.69) EPS, FY2025 earnings at ($2.77) EPS, FY2026 earnings at ($2.70) EPS and FY2027 earnings at ($2.11) EPS.

IMNM has been the subject of several other reports. Piper Sandler decreased their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Stephens initiated coverage on shares of Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $28.83.

Immunome Price Performance

Shares of NASDAQ:IMNM opened at $9.44 on Monday. The company’s 50-day moving average price is $13.02 and its two-hundred day moving average price is $13.75. Immunome has a one year low of $6.93 and a one year high of $30.96. The stock has a market capitalization of $588.93 million, a PE ratio of -1.16 and a beta of 1.82.

Insiders Place Their Bets

In other Immunome news, CFO Max Rosett sold 14,380 shares of the firm’s 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 sale, the chief financial officer now directly owns 47,476 shares in the company, valued at $760,090.76. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Immunome by 13.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock valued at $17,657,000 after purchasing an additional 144,557 shares during the period. Barclays PLC lifted its holdings in shares of Immunome by 125.9% during the third quarter. Barclays PLC now owns 105,886 shares of the company’s stock worth $1,547,000 after buying an additional 59,016 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Immunome in the third quarter valued at about $363,000. Wellington Management Group LLP grew its stake in shares of Immunome by 137.1% in the third quarter. Wellington Management Group LLP now owns 140,690 shares of the company’s stock valued at $2,057,000 after acquiring an additional 81,354 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Immunome by 22.2% during the third quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock worth $6,881,000 after acquiring 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.