Immunome (NASDAQ:IMNM) Stock Price Up 3.4% Following Insider Buying Activity

Immunome, Inc. (NASDAQ:IMNM)’s stock price was up 3.4% on Tuesday following insider buying activity. The stock traded as high as $14.80 and last traded at $14.79. Approximately 156,208 shares were traded during trading, a decline of 81% from the average daily volume of 803,093 shares. The stock had previously closed at $14.30.

Specifically, Director Jean Jacques Bienaime purchased 7,000 shares of Immunome stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $13.94 per share, for a total transaction of $97,580.00. Following the acquisition, the director now owns 16,615 shares in the company, valued at approximately $231,613.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

IMNM has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Immunome in a report on Tuesday, April 30th. They issued an “overweight” rating and a $24.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Tuesday, August 13th. Finally, Piper Sandler reduced their target price on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $29.00.

Immunome Stock Up 3.9 %

The company’s 50 day simple moving average is $13.55 and its two-hundred day simple moving average is $17.46. The company has a market capitalization of $891.14 million, a price-to-earnings ratio of -1.89 and a beta of 1.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in shares of Immunome in the second quarter worth $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Immunome in the second quarter worth $97,000. Arizona State Retirement System raised its holdings in shares of Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after buying an additional 918 shares during the last quarter. EntryPoint Capital LLC raised its holdings in shares of Immunome by 21,864.0% during the first quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock worth $136,000 after purchasing an additional 5,466 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Immunome during the fourth quarter worth $172,000. Hedge funds and other institutional investors 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.