Immunome (NASDAQ:IMNM) Shares Down 7.6% – Time to Sell?

Immunome, Inc. (NASDAQ:IMNM)’s stock price was down 7.6% on Monday . The stock traded as low as $20.10 and last traded at $20.18. Approximately 533,806 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 1,346,057 shares. The stock had previously closed at $21.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Immunome from a “hold” rating to a “sell” rating in a research note on Saturday. Leerink Partners cut their target price on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Barclays assumed coverage on shares of Immunome in a research note on Thursday. They set an “overweight” rating and a $36.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Immunome in a research note on Wednesday, May 13th. Finally, Craig Hallum upped their target price on shares of Immunome from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.17.

Immunome Trading Down 2.2%

The firm’s fifty day moving average price is $22.08 and its 200-day moving average price is $21.62. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -8.99 and a beta of 2.04.

Immunome (NASDAQ:IMNM) last posted its earnings results on Tuesday, May 12th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.12. On average, sell-side analysts expect that Immunome, Inc. will post -2.26 earnings per share for the current year.

Insider Buying and Selling at Immunome

In related news, CFO Max Rosett sold 65,000 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,424,800.00. Following the completion of the sale, the chief financial officer owned 54,037 shares in the company, valued at $1,184,491.04. This represents a 54.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 9,438 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $21.64, for a total transaction of $204,238.32. Following the sale, the insider owned 22,000 shares of the company’s stock, valued at approximately $476,080. This represents a 30.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 139,438 shares of company stock worth $2,964,664 in the last quarter. 7.21% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Immunome by 285.6% in the 1st quarter. Bank of America Corp DE now owns 781,607 shares of the company’s stock worth $17,094,000 after acquiring an additional 578,890 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Immunome in the 1st quarter worth $1,310,000. California State Teachers Retirement System lifted its stake in shares of Immunome by 66.3% in the 1st quarter. California State Teachers Retirement System now owns 111,444 shares of the company’s stock worth $2,437,000 after acquiring an additional 44,432 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Immunome in the first quarter valued at about $222,000. Finally, Aristotle Atlantic Partners LLC acquired a new stake in shares of Immunome in the first quarter valued at about $2,734,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.