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

Immunome, Inc. (NASDAQ:IMNM)’s share price 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.

Specifically, CTO Philip Tsai bought 12,300 shares of Immunome stock in a transaction that occurred on Monday, March 24th. The shares were purchased at an average price of $8.42 per share, with a total value of $103,566.00. Following the purchase, the chief technology officer now owns 33,300 shares in the company, valued at $280,386. This represents a 58.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $8.21 per share, with a total value of $57,470.00. Following the transaction, the director now directly owns 23,615 shares of the company’s stock, valued at $193,879.15. This represents a 42.13 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Guggenheim cut their target price on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Immunome in a report on Thursday, March 20th. Lifesci Capital began coverage on Immunome in a research report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 target price 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 MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $25.50.

Immunome Stock Performance

The company has a market capitalization of $632.05 million, a PE ratio of -0.90 and a beta of 1.93. The firm has a fifty day simple moving average of $9.67 and a 200-day simple moving average of $11.44.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results 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). The company had revenue of $2.74 million during the quarter, compared to analyst estimates of $3.07 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. As a group, research analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunome

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in Immunome in the fourth quarter worth about $70,000. KLP Kapitalforvaltning AS bought a new position in shares of Immunome in the 4th quarter worth about $75,000. AlphaQuest LLC lifted its holdings in Immunome by 786,700.0% in the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company’s stock worth $84,000 after acquiring an additional 7,867 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Immunome by 482.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company’s stock worth $91,000 after acquiring an additional 7,129 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in Immunome in the fourth quarter valued at approximately $95,000. Institutional investors and hedge funds 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.