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

Immunome, Inc. (NASDAQ:IMNM) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $6.95, but opened at $7.44. Immunome shares last traded at $7.26, with a volume of 247,799 shares traded.

Specifically, CEO Clay B. Siegall purchased 137,100 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of $7.29 per share, for a total transaction of $999,459.00. Following the acquisition, the chief executive officer now directly owns 806,736 shares in the company, valued at $5,881,105.44. This trade represents a 20.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Philip Tsai purchased 12,300 shares of Immunome stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the transaction, the chief technology officer now directly owns 33,300 shares in the company, valued at $280,386. This represents a 58.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, Director Jean Jacques Bienaime bought 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average cost of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the purchase, the director now owns 23,615 shares of the company’s stock, valued at approximately $193,879.15. This represents a 42.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

IMNM has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research note on Thursday, March 20th. Guggenheim decreased their price objective on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Lifesci Capital started coverage on Immunome in a report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Stephens restated an “overweight” rating and issued a $30.00 price target on shares of Immunome in a research note on Thursday, March 20th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome currently has a consensus rating of “Buy” and a consensus target price of $25.50.

Immunome Stock Performance

The stock’s 50-day moving average is $9.61 and its 200 day moving average is $11.41. The stock has a market capitalization of $616.48 million, a PE ratio of -0.87 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.16). Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. The firm had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $3.07 million. Analysts expect that Immunome, Inc. will post -2.21 earnings per share for the current year.

Institutional Investors Weigh In On Immunome

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Immunome in the 4th quarter valued at $70,000. KLP Kapitalforvaltning AS purchased a new position in shares of Immunome during the fourth quarter worth about $75,000. AlphaQuest LLC increased its position in Immunome by 786,700.0% in the 4th quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock valued at $84,000 after acquiring an additional 7,867 shares during the period. Tower Research Capital LLC TRC raised its stake in Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock valued at $91,000 after acquiring an additional 7,129 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Immunome during the 4th quarter worth approximately $95,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.