Immunome (NASDAQ:IMNM) Sees Unusually-High Trading Volume – What’s Next?

Immunome, Inc. (NASDAQ:IMNM) shares saw unusually-strong trading volume on Thursday . Approximately 958,208 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 660,083 shares.The stock last traded at $9.84 and had previously closed at $9.35.

Analysts Set New Price Targets

A number of 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 on the stock. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Immunome in a research report on Monday, January 13th. Finally, Piper Sandler lowered their price objective on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Five 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 $28.60.

Immunome Stock Performance

The company has a market cap of $637.18 million, a price-to-earnings ratio of -1.26 and a beta of 1.90. The stock’s fifty day simple moving average is $11.32 and its two-hundred day simple moving average is $12.77.

Insider Activity at Immunome

In related news, CTO Philip Tsai bought 21,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $9.43 per share, for a total transaction of $198,030.00. Following the purchase, the chief technology officer now owns 21,000 shares in the company, valued at $198,030. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Lechleider purchased 15,805 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $9.48 per share, with a total value of $149,831.40. Following the completion of the purchase, the insider now directly owns 15,805 shares of the company’s stock, valued at approximately $149,831.40. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 102,862 shares of company stock valued at $978,045. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Stoneridge Investment Partners LLC bought a new stake in Immunome during the fourth quarter valued at $123,000. AQR Capital Management LLC lifted its position in Immunome by 34.6% in the 2nd 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 during the last quarter. Intech Investment Management LLC acquired a new position in Immunome during the 3rd quarter valued at about $219,000. Three Bridge Wealth Advisors LLC bought a new position in Immunome in the 4th quarter worth about $293,000. Finally, JPMorgan Chase & Co. boosted its stake in Immunome by 6.6% during the 3rd 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. 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.