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

Immunome, Inc. (NASDAQ:IMNM)’s share price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $9.82, but opened at $11.10. Immunome shares last traded at $11.18, with a volume of 336,877 shares trading hands.

Specifically, CTO Philip Tsai acquired 21,000 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $9.43 per share, with a total value of $198,030.00. Following the completion of the acquisition, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Lechleider acquired 15,805 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $9.48 per share, with a total value of $149,831.40. Following the acquisition, the insider now directly owns 15,805 shares of the company’s stock, valued at approximately $149,831.40. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, CEO Clay B. Siegall acquired 66,057 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $9.54 per share, with a total value of $630,183.78. Following the completion of the acquisition, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at $4,633,511.22. This trade represents a 15.74 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

Several equities research analysts have commented on IMNM shares. Piper Sandler dropped their price target 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. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research report on Friday, October 25th. Finally, Stephens started coverage on shares of Immunome in a research report on Friday, November 8th. They issued an “overweight” rating and a $30.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome has an average rating of “Buy” and a consensus target price of $28.83.

Immunome Trading Up 13.5 %

The stock has a market capitalization of $695.98 million, a P/E ratio of -1.37 and a beta of 1.82. The firm’s fifty day moving average is $12.49 and its 200-day moving average is $13.55.

Hedge Funds Weigh In On Immunome

Several institutional investors have recently added to or reduced their stakes in the company. Sofinnova Investments Inc. raised its stake in shares of Immunome by 10.3% in the second quarter. Sofinnova Investments Inc. now owns 655,680 shares of the company’s stock worth $7,934,000 after acquiring an additional 61,284 shares during the last quarter. Cetera Investment Advisers acquired a new position in Immunome during the 1st quarter worth $3,038,000. Victory Capital Management Inc. lifted its holdings in Immunome by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after buying an additional 237,497 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 valued at $55,425,000 after buying an additional 1,194,451 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Immunome in the 2nd quarter valued at $1,379,000. 44.58% of the stock is owned by institutional investors.

Immunome Company Profile

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.