Immunome (NASDAQ:IMNM) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Immunome (NASDAQ:IMNM) from a sell rating to a strong sell rating in a report issued on Sunday morning,Wall Street Zen reports.

A number of other analysts also recently weighed in on the company. Citigroup restated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research report on Friday, July 17th. Stifel Nicolaus began coverage on Immunome in a report on Wednesday. They issued a “hold” rating and a $24.00 target price for the company. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Immunome in a research report on Thursday, September 10th. Finally, Wedbush upped their price target on shares of Immunome from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Immunome has a consensus rating of “Moderate Buy” and a consensus target price of $34.25.

Immunome Price Performance

Shares of NASDAQ:IMNM opened at $20.90 on Friday. The company has a market cap of $2.37 billion, a P/E ratio of -8.26 and a beta of 2.55. Immunome has a 52 week low of $11.55 and a 52 week high of $30.06. The company has a 50-day moving average price of $25.35 and a 200 day moving average price of $22.87.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.14). Analysts expect that Immunome will post -2.43 EPS for the current year.

Insider Buying and Selling at Immunome

In related news, Director Isaac Barchas sold 11,048 shares of Immunome stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total transaction of $301,058.00. Following the completion of the transaction, the director directly owned 92,211 shares in the company, valued at $2,512,749.75. The trade was a 10.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 13,200 shares of the company’s stock in a transaction that occurred on 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 directly owned 65,050 shares in the company, valued at approximately $1,647,066. The trade was a 16.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 241,366 shares of company stock valued at $6,183,568 over the last quarter. Corporate insiders own 7.21% of the company’s stock.

Hedge Funds Weigh In On Immunome

Hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Immunome in the second quarter worth $27,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Immunome during the 2nd quarter worth about $576,000. Readystate Asset Management LP increased its position in Immunome by 23.3% during the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock worth $34,027,000 after purchasing an additional 303,958 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Immunome in the 2nd quarter valued at about $552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Immunome by 0.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,636 shares of the company’s stock valued at $3,997,000 after purchasing an additional 1,625 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Immunome

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapeutics for cancer and immune-related diseases. The company uses its antibody discovery and development capabilities to identify potentially differentiated treatments designed to address significant unmet medical needs.

Immunome’s research activities are centered on building a pipeline of monoclonal antibody programs, including candidates directed at targets relevant to oncology and inflammatory or immune-mediated conditions.