Insider Buying: Immunome, Inc. (NASDAQ:IMNM) Director Buys 7,000 Shares of Stock

Immunome, Inc. (NASDAQ:IMNM) Director Jean Jacques Bienaime acquired 7,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were purchased at an average price of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the transaction, the director now directly owns 23,615 shares in the company, valued at approximately $193,879.15. This trade represents a 42.13 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Immunome Price Performance

NASDAQ IMNM opened at $6.95 on Wednesday. Immunome, Inc. has a 1-year low of $6.94 and a 1-year high of $26.70. The business has a 50 day simple moving average of $9.67 and a two-hundred day simple moving average of $11.44. The stock has a market capitalization of $604.31 million, a PE ratio of -0.86 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last posted its earnings results on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The business had revenue of $2.74 million during the quarter, compared to analysts’ expectations of $3.07 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. On average, analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IMNM shares. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research note on Thursday, March 20th. Lifesci Capital began coverage on Immunome in a research note on Tuesday, March 11th. They set an “outperform” rating and a $20.00 target price on the stock. Stephens restated an “overweight” rating and issued a $30.00 price target on shares of Immunome in a research note on Thursday, March 20th. Finally, Guggenheim reduced their price objective on shares of Immunome from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.50.

Institutional Trading of Immunome

A number of large investors have recently made changes to their positions in IMNM. Enavate Sciences GP LLC purchased a new position in Immunome in the fourth quarter worth about $36,939,000. JPMorgan Chase & Co. boosted its holdings in shares of Immunome by 2,540.4% in the 4th quarter. JPMorgan Chase & Co. now owns 648,610 shares of the company’s stock worth $6,888,000 after purchasing an additional 624,045 shares during the period. Janus Henderson Group PLC increased its position in shares of Immunome by 10.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after purchasing an additional 324,614 shares during the last quarter. Granahan Investment Management LLC purchased a new stake in Immunome during the 4th quarter valued at $3,337,000. Finally, Renaissance Technologies LLC lifted its position in Immunome by 2,696.5% in the fourth quarter. Renaissance Technologies LLC now owns 316,000 shares of the company’s stock worth $3,356,000 after buying an additional 304,700 shares during the last quarter. 44.58% of the stock is currently 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.