Immunome (NASDAQ:IMNM) Trading Up 4.4% After Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s share price rose 4.4% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $7.68 and last traded at $7.40. Approximately 229,972 shares traded hands during trading, a decline of 73% from the average daily volume of 836,334 shares. The stock had previously closed at $7.09.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on IMNM. Guggenheim lowered their price objective on Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Stephens reiterated an “overweight” rating and issued a $30.00 price target on shares of Immunome in a research note on Thursday, March 20th. Lifesci Capital began coverage on Immunome in a research note on Tuesday, March 11th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research report on Thursday, March 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $25.50.

Immunome Trading Up 2.7 %

The stock has a 50-day simple moving average of $9.56 and a 200 day simple moving average of $11.38. The company has a market cap of $633.00 million, a price-to-earnings ratio of -0.90 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last released its earnings results on Wednesday, March 19th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $3.07 million. As a group, research analysts forecast that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Institutional Trading of Immunome

Several large investors have recently made changes to their positions in IMNM. Intech Investment Management LLC acquired a new position in Immunome during the third quarter valued at $219,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Immunome by 217.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock valued at $6,469,000 after buying an additional 302,916 shares during the period. Cerity Partners LLC boosted its stake in shares of Immunome by 10.5% in the third quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock worth $776,000 after buying an additional 5,043 shares during the last quarter. FMR LLC boosted its stake in shares of Immunome by 0.3% in the third quarter. FMR LLC now owns 4,224,700 shares of the company’s stock worth $61,765,000 after buying an additional 13,757 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Immunome by 129.1% during the third quarter. MetLife Investment Management LLC now owns 30,265 shares of the company’s stock worth $442,000 after acquiring an additional 17,053 shares during the period. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.