Immunome, Inc. (NASDAQ:IMNM) Short Interest Update

Immunome, Inc. (NASDAQ:IMNM) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 9,790,000 shares, a decrease of 8.2% from the November 15th total of 10,670,000 shares. Currently, 19.3% of the company’s shares are sold short. Based on an average daily volume of 787,600 shares, the short-interest ratio is presently 12.4 days.

Analyst Ratings Changes

A number of research analysts have issued reports on IMNM shares. Stephens initiated coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price for the company. Piper Sandler lowered their target price on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Immunome in a report on Friday, October 25th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Immunome currently has a consensus rating of “Buy” and an average target price of $28.83.

Immunome Trading Down 3.4 %

Shares of IMNM opened at $12.02 on Wednesday. The stock has a market capitalization of $750.25 million, a price-to-earnings ratio of -1.48 and a beta of 1.83. Immunome has a 12 month low of $7.48 and a 12 month high of $30.96. The firm has a fifty day simple moving average of $12.21 and a 200 day simple moving average of $13.41.

Insider Buying and Selling at Immunome

In other Immunome news, CFO Max Rosett sold 14,380 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.01, for a total transaction of $230,223.80. Following the transaction, the chief financial officer now owns 47,476 shares in the company, valued at approximately $760,090.76. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Lechleider purchased 15,805 shares of the stock in a transaction dated 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 completion of the purchase, the insider now owns 15,805 shares in the company, valued at $149,831.40. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 102,862 shares of company stock worth $978,045. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Immunome during the 2nd quarter worth approximately $1,095,000. Sequoia Financial Advisors LLC acquired a new position in shares of Immunome during the 2nd quarter worth about $206,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Immunome by 279.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 41,570 shares of the company’s stock worth $503,000 after purchasing an additional 30,617 shares during the last quarter. Clear Creek Financial Management LLC lifted its stake in Immunome by 18.2% in the 2nd quarter. Clear Creek Financial Management LLC now owns 26,188 shares of the company’s stock valued at $317,000 after purchasing an additional 4,035 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Immunome in the 2nd quarter valued at about $1,816,000. 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.