Wedbush Reaffirms Outperform Rating for Immunome (NASDAQ:IMNM)

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reissued by Wedbush in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $35.00 price objective on the stock. Wedbush‘s price objective points to a potential upside of 86.47% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research note on Thursday, October 15th. Wall Street Zen cut Immunome from a “sell” rating to a “strong sell” rating in a research note on Sunday, October 4th. Truist Financial lifted their price target on Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Finally, Stifel Nicolaus initiated coverage on Immunome in a research note on Wednesday, September 30th. They issued a “hold” rating and a $24.00 price target on the stock. Thirteen 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Immunome Stock Performance

IMNM traded up $0.88 during trading on Tuesday, reaching $18.77. The company had a trading volume of 1,226,154 shares, compared to its average volume of 1,365,339. The firm’s 50-day simple moving average is $23.22 and its 200 day simple moving average is $22.51. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -7.42 and a beta of 2.55. Immunome has a 12-month low of $14.64 and a 12-month high of $30.06.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). On average, sell-side analysts expect that Immunome will post -2.48 EPS for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, insider Kinney Horn sold 90,616 shares of Immunome stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the transaction, the insider owned 50,366 shares of the company’s stock, valued at $1,263,682.94. The trade was a 64.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 62,291 shares of Immunome stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $26.23, for a total value of $1,633,892.93. Following the transaction, the director directly owned 92,211 shares in the company, valued at approximately $2,418,694.53. This trade represents a 40.32% 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 a total of 223,368 shares of company stock valued at $5,747,142 in the last 90 days. 7.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Immunome

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Immunome in the 2nd quarter valued at approximately $186,588,000. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 478,239 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Immunome in the 2nd quarter valued at approximately $97,081,000. Readystate Asset Management LP grew its stake in shares of Immunome by 23.3% in the 2nd quarter. Readystate Asset Management LP now owns 1,605,820 shares of the company’s stock valued at $34,027,000 after buying an additional 303,958 shares in the last quarter. Finally, Bank of America Corp DE grew 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 valued at $17,094,000 after buying an additional 578,890 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc (NASDAQ: IMNM) is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based medicines. Its technology platform analyzes human immune responses to identify antibodies that may be developed into therapies for serious diseases.

The company’s research activities have included therapeutic programs in oncology and immunology, with an emphasis on antibodies designed to affect disease-driving biological pathways. Immunome has also conducted antibody discovery work related to infectious diseases, including SARS-CoV-2, as it has expanded its focus toward broader therapeutic applications.

Immunome is headquartered in Exton, Pennsylvania, and serves the global biopharmaceutical market through internal research and development activities and potential collaborations.