Immunome (NASDAQ:IMNM) Shares Up 7.2% – Time to Buy?

Immunome, Inc. (NASDAQ:IMNM) shares shot up 7.2% during mid-day trading on Friday . The stock traded as high as $11.24 and last traded at $11.27. 690,704 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 869,716 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Several research firms recently commented on IMNM. Piper Sandler cut their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Wedbush reiterated an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research report on Monday, January 13th. Finally, Stephens initiated coverage on Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $28.60.

Immunome Stock Performance

The firm’s 50-day simple moving average is $11.36 and its two-hundred day simple moving average is $12.72.

Insider Activity

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

Hedge Funds Weigh In On Immunome

Hedge funds have recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC acquired a new stake in shares of Immunome in the 4th quarter valued at $123,000. AQR Capital Management LLC raised its holdings in Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after buying an additional 4,129 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Immunome in the third quarter worth about $219,000. Three Bridge Wealth Advisors LLC acquired a new position in shares of Immunome during the 4th quarter valued at about $293,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Immunome by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after acquiring 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.