Brokerages Set Immunome, Inc. (NASDAQ:IMNM) Price Target at $29.80

Shares of Immunome, Inc. (NASDAQ:IMNM) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.80.

A number of research firms recently commented on IMNM. JPMorgan Chase & Co. began coverage on shares of Immunome in a research note on Tuesday, April 30th. They set an “overweight” rating and a $24.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Immunome in a research note on Thursday, July 25th. Guggenheim assumed coverage on shares of Immunome in a report on Monday, April 15th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Piper Sandler assumed coverage on shares of Immunome in a report on Friday, May 31st. They set an “overweight” rating and a $27.00 price objective for the company.

Insider Activity

In other Immunome news, Director Jean Jacques Bienaime purchased 2,000 shares of Immunome stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $13.57 per share, for a total transaction of $27,140.00. Following the acquisition, the director now owns 9,615 shares in the company, valued at approximately $130,475.55. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

Several large investors have recently modified their holdings of the business. Redmile Group LLC raised its holdings in shares of Immunome by 26.0% in the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock valued at $120,674,000 after purchasing an additional 1,010,139 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Immunome by 113.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after buying an additional 1,194,451 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Immunome by 16.1% in the 1st quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock worth $49,847,000 after buying an additional 279,712 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Immunome by 10.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,538,414 shares of the company’s stock worth $37,957,000 after buying an additional 146,943 shares during the last quarter. Finally, Avidity Partners Management LP purchased a new position in shares of Immunome in the 4th quarter worth approximately $14,268,000. Institutional investors own 44.58% of the company’s stock.

Immunome Stock Down 2.0 %

Shares of NASDAQ:IMNM opened at $15.45 on Wednesday. Immunome has a 52 week low of $6.13 and a 52 week high of $30.96. The stock has a market capitalization of $926.52 million, a P/E ratio of -2.05 and a beta of 1.79. The firm has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $17.67.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.46. Immunome had a negative net margin of 1,829.44% and a negative return on equity of 37.33%. The firm had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $4.00 million. On average, analysts expect that Immunome will post -1.45 earnings per share for the current year.

About Immunome

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.