Immunome (NASDAQ:IMNM) Shares Down 7.1% – Here’s What Happened

Immunome, Inc. (NASDAQ:IMNM)’s share price fell 7.1% during trading on Thursday . The company traded as low as $22.59 and last traded at $22.5150. Approximately 867,638 shares changed hands during trading, a decline of 36% from the average session volume of 1,346,529 shares. The stock had previously closed at $24.24.

Analyst Ratings Changes

Several research firms have issued reports on IMNM. HC Wainwright restated a “buy” rating and issued a $40.00 price objective on shares of Immunome in a research note on Thursday, September 10th. Truist Financial boosted their target price on Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Citigroup restated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Barclays initiated coverage on Immunome in a report on Thursday, May 28th. They set an “overweight” rating and a $36.00 price target for the company. Finally, Wedbush upped their price objective on shares of Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Immunome presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.18.

Immunome Stock Performance

The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -8.95 and a beta of 2.13. The company has a fifty day moving average of $25.47 and a two-hundred day moving average of $22.85.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). Equities analysts forecast that Immunome, Inc. will post -2.38 EPS for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, insider Jack Higgins sold 13,200 shares of Immunome stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $25.32, for a total value of $334,224.00. Following the completion of the sale, the insider owned 65,050 shares in the company, valued at $1,647,066. The trade was a 16.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the completion of the sale, the insider directly owned 50,366 shares of the company’s stock, valued at $1,263,682.94. This represents a 64.27% 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. Over the last ninety days, insiders have sold 580,510 shares of company stock valued at $13,824,240. 7.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunome

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Immunome during the second quarter worth approximately $186,588,000. Wellington Management Group LLP raised its holdings in Immunome by 10.1% in the 2nd quarter. Wellington Management Group LLP now owns 5,210,216 shares of the company’s stock valued at $110,404,000 after acquiring an additional 478,239 shares in the last quarter. Primecap Management Co. CA acquired a new position in Immunome in the 2nd quarter valued at $97,081,000. Sofinnova Investments Inc. lifted its position in shares of Immunome by 271.2% during the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock valued at $34,765,000 after acquiring an additional 1,182,426 shares during the period. Finally, Readystate Asset Management LP lifted its position in shares of Immunome by 23.3% during the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock valued at $34,027,000 after acquiring an additional 303,958 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Company Profile

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapies for cancer and other serious diseases. The company uses proprietary antibody discovery and engineering technologies designed to identify therapeutic candidates from human immune responses and advance them into clinical development.

Immunome’s activities include the development of novel immunotherapies and targeted biologic medicines, with research programs aimed at addressing significant unmet needs in oncology and inflammatory or immune-mediated diseases.