Immunome (NASDAQ:IMNM) Issues Quarterly Earnings Results, Misses Estimates By $0.15 EPS

Immunome (NASDAQ:IMNM) posted its quarterly earnings data on Monday. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.15), FiscalAI reports.

Immunome Stock Performance

NASDAQ IMNM traded up $0.65 during trading on Monday, hitting $19.36. 1,376,707 shares of the company’s stock traded hands, compared to its average volume of 1,380,800. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -7.65 and a beta of 2.68. Immunome has a 12-month low of $15.46 and a 12-month high of $30.06. The business has a 50 day moving average of $21.49 and a 200-day moving average of $22.40.

Insider Activity

In other 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 transaction, the insider owned 65,050 shares in the company, valued at $1,647,066. This trade represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 62,291 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $26.23, for a total transaction of $1,633,892.93. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 86,539 shares of company stock valued at $2,269,175 in the last quarter. Corporate insiders own 7.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IMNM shares. Wall Street Zen downgraded shares of Immunome from a “sell” rating to a “strong sell” rating in a research report on Sunday, October 4th. Truist Financial lifted their price target on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Stifel Nicolaus assumed coverage on shares of Immunome in a report on Wednesday, September 30th. They issued a “hold” rating and a $24.00 price target on the stock. Alliance Global Partners assumed coverage on Immunome in a research note on Monday, September 21st. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Thursday, October 15th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Immunome presently has a consensus rating of “Moderate Buy” and an average price target of $34.25.

Immunome Company Profile

Immunome is a biotechnology company focused on discovering and developing therapies for cancer. It uses an antibody-discovery platform to identify targets and develop medicines intended to address areas of significant unmet medical need.

The company’s research and development programs include targeted cancer treatments, such as antibody-based therapies and other drug candidates. Its portfolio has included investigational medicines for solid tumors and other cancers; these products are in development and are not necessarily approved for commercial use.

Immunome became a publicly traded company in 2023 following a merger with Morphimmune and a combination with Ayala Pharmaceuticals.