Immunome (NASDAQ:IMNM) Trading 7.2% Higher – Still a Buy?

Immunome, Inc. (NASDAQ:IMNM) shot up 7.2% during trading on Friday . The stock traded as high as $11.24 and last traded at $11.27. 690,704 shares were traded during mid-day trading, a decline of 21% from the average session volume of 869,716 shares. The stock had previously closed at $10.51.

Analyst Ratings Changes

A number of research analysts have commented on IMNM shares. Piper Sandler lowered their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Immunome in a report on Monday, January 13th. Finally, Stephens began coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome presently has a consensus rating of “Buy” and a consensus price target of $28.60.

Immunome Stock Performance

The stock has a market cap of $677.19 million, a P/E ratio of -1.34 and a beta of 1.90. The firm has a 50-day moving average price of $11.34 and a 200-day moving average price of $12.75.

Insider Buying and Selling

In related news, CTO Philip Tsai acquired 21,000 shares of the stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $9.43 per share, for a total transaction of $198,030.00. Following the completion of the purchase, the chief technology officer now owns 21,000 shares of the company’s stock, valued at $198,030. This represents a ∞ 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 the SEC website. Also, CEO Clay B. Siegall bought 66,057 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the acquisition, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 102,862 shares of company stock valued at $978,045 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in Immunome by 105.0% during the second quarter. Renaissance Technologies LLC now owns 93,300 shares of the company’s stock valued at $1,129,000 after buying an additional 47,782 shares during the last quarter. AQR Capital Management LLC raised its holdings in Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after purchasing an additional 4,129 shares during the period. The Manufacturers Life Insurance Company lifted its position in Immunome by 52.2% during the second quarter. The Manufacturers Life Insurance Company now owns 166,928 shares of the company’s stock valued at $2,020,000 after purchasing an additional 57,242 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Immunome by 48.1% during the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after purchasing an additional 237,497 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Immunome in the third quarter worth about $219,000. 44.58% of the stock is owned by 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.