Piper Sandler Cuts Immunome (NASDAQ:IMNM) Price Target to $21.00

Immunome (NASDAQ:IMNM) had its price objective reduced by Piper Sandler from $23.00 to $21.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently weighed in on IMNM. Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Immunome in a research report on Friday, October 25th. Stephens initiated coverage on shares of Immunome in a report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $28.83.

Immunome Stock Performance

NASDAQ:IMNM opened at $9.90 on Thursday. Immunome has a 52 week low of $6.93 and a 52 week high of $30.96. The stock’s 50 day moving average price is $13.12 and its 200 day moving average price is $13.79. The company has a market capitalization of $617.96 million, a P/E ratio of -1.22 and a beta of 1.82.

Insiders Place Their Bets

In other news, CFO Max Rosett sold 14,380 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was 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 owns 47,476 shares in the company, valued at $760,090.76. The trade was 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. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

A number of large investors have recently added to or reduced their stakes in IMNM. Lord Abbett & CO. LLC bought a new position in Immunome in the 1st quarter valued at approximately $10,994,000. Swiss National Bank bought a new stake in Immunome in the 1st quarter valued at about $1,762,000. Sofinnova Investments Inc. increased its holdings in shares of Immunome by 10.3% during the second quarter. Sofinnova Investments Inc. now owns 655,680 shares of the company’s stock valued at $7,934,000 after acquiring an additional 61,284 shares in the last quarter. Cetera Investment Advisers acquired a new position in Immunome during the first quarter worth $3,038,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $55,425,000 after acquiring an additional 1,194,451 shares during the last quarter. Institutional investors and hedge funds 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.