Short Interest in Immunome, Inc. (NASDAQ:IMNM) Grows By 12.2%

Immunome, Inc. (NASDAQ:IMNM) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 9,870,000 shares, an increase of 12.2% from the December 31st total of 8,800,000 shares. Based on an average daily volume of 787,000 shares, the days-to-cover ratio is currently 12.5 days. Currently, 19.2% of the shares of the stock are sold short.

Insider Activity

In related news, CEO Clay B. Siegall acquired 66,057 shares of the stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $9.54 per share, for a total transaction of $630,183.78. Following the purchase, the chief executive officer now owns 485,693 shares in the company, valued at approximately $4,633,511.22. This trade represents a 15.74 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Lechleider acquired 15,805 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the acquisition, the insider now owns 15,805 shares in the company, valued at approximately $149,831.40. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 252,862 shares of company stock worth $2,140,545. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunome

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Immunome by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after purchasing an additional 1,520 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after purchasing an additional 4,129 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Immunome by 10.5% during the third quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock valued at $776,000 after purchasing an additional 5,043 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Immunome during the fourth quarter valued at $123,000. Finally, Primecap Management Co. CA lifted its holdings in shares of Immunome by 4.5% during the third quarter. Primecap Management Co. CA now owns 280,800 shares of the company’s stock valued at $4,105,000 after purchasing an additional 12,000 shares in the last quarter. 44.58% of the stock is owned by institutional investors.

Immunome Stock Performance

NASDAQ:IMNM traded down $0.71 during mid-day trading on Monday, reaching $10.32. The stock had a trading volume of 1,122,794 shares, compared to its average volume of 1,001,049. The firm has a 50 day moving average price of $11.34 and a two-hundred day moving average price of $12.68. The stock has a market capitalization of $644.14 million, a P/E ratio of -1.27 and a beta of 1.90. Immunome has a one year low of $8.97 and a one year high of $30.96.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research note on Monday, January 13th. Finally, Piper Sandler decreased their target price on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome presently has an average rating of “Buy” and a consensus target price of $28.60.

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.