Immunome (NASDAQ:IMNM) Stock Price Up 7.9% – Here’s What Happened

Immunome, Inc. (NASDAQ:IMNM) shares were up 7.9% during trading on Thursday . The stock traded as high as $23.16 and last traded at $23.1850. Approximately 877,764 shares were traded during trading, a decline of 38% from the average session volume of 1,425,535 shares. The stock had previously closed at $21.49.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IMNM. Wedbush restated an “outperform” rating and issued a $31.00 price objective on shares of Immunome in a research report on Friday, June 12th. Leerink Partners dropped their target price on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Stephens cut their price target on Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. Craig Hallum boosted their price objective on shares of Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Immunome has an average rating of “Moderate Buy” and a consensus target price of $33.17.

Immunome Stock Performance

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -9.81 and a beta of 2.07. The business has a fifty day moving average price of $20.96 and a 200 day moving average price of $21.76.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.12. On average, analysts expect that Immunome, Inc. will post -2.06 earnings per share for the current year.

Insider Buying and Selling at Immunome

In other news, CFO Max Rosett sold 60,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $18.23, for a total value of $1,093,800.00. Following the transaction, the chief financial officer owned 54,037 shares of the company’s stock, valued at approximately $985,094.51. This trade represents a 52.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of Immunome stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $19.85, for a total transaction of $1,091,750.00. Following the transaction, the insider owned 15,805 shares in the company, valued at $313,729.25. The trade was a 77.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Immunome

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Immunome by 44.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company’s stock worth $316,000 after acquiring an additional 14,398 shares in the last quarter. Creative Planning acquired a new stake in Immunome in the second quarter valued at approximately $167,000. Rhumbline Advisers raised its stake in shares of Immunome by 22.0% during the second quarter. Rhumbline Advisers now owns 108,414 shares of the company’s stock valued at $1,008,000 after purchasing an additional 19,526 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Immunome by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 280,816 shares of the company’s stock valued at $2,612,000 after purchasing an additional 9,686 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Immunome in the second quarter valued at $1,021,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

About Immunome

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.