Immunome, Inc. (NASDAQ:IMNM) Sees Large Increase in Short Interest

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

Immunome Stock Performance

IMNM stock traded up $0.13 during midday trading on Friday, hitting $9.99. 900,280 shares of the company’s stock were exchanged, compared to its average volume of 718,408. The stock’s fifty day moving average price is $11.47 and its 200-day moving average price is $12.91. Immunome has a one year low of $8.97 and a one year high of $30.96.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler reduced 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 reaffirmed an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Monday, January 13th. Finally, Stephens assumed coverage on Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $28.83.

Insider Buying and Selling

In related news, CEO Clay B. Siegall bought 66,057 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of $9.54 per share, for a total transaction of $630,183.78. Following the acquisition, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at $4,633,511.22. The trade was a 15.74 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert Lechleider purchased 15,805 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $9.48 per share, for a total transaction of $149,831.40. Following the acquisition, the insider now directly owns 15,805 shares of the company’s stock, valued at $149,831.40. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 102,862 shares of company stock worth $978,045. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Immunome

A number of institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in Immunome by 0.3% during the third quarter. FMR LLC now owns 4,224,700 shares of the company’s stock valued at $61,765,000 after purchasing an additional 13,757 shares in the last quarter. Janus Henderson Group PLC increased its stake in Immunome by 10.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after buying an additional 324,614 shares during the last quarter. Marshall Wace LLP increased its stake in Immunome by 228.5% in the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock valued at $20,731,000 after buying an additional 1,191,774 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Immunome by 13.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after purchasing an additional 144,557 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Immunome by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after purchasing an additional 237,497 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.