Immunome (NASDAQ:IMNM) Sees Large Volume Increase – Time to Buy?

Immunome, Inc. (NASDAQ:IMNM) shares saw an uptick in trading volume on Thursday . 958,208 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 660,083 shares.The stock last traded at $9.84 and had previously closed at $9.35.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IMNM shares. Stephens initiated coverage on Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Immunome in a research note on Monday, January 13th. Finally, Piper Sandler dropped their price target on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $28.60.

Immunome Stock Up 9.2 %

The stock has a 50-day moving average of $11.32 and a 200 day moving average of $12.77. The stock has a market cap of $637.18 million, a PE ratio of -1.26 and a beta of 1.90.

Insiders Place Their Bets

In other news, CTO Philip Tsai bought 21,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $9.43 per share, for a total transaction of $198,030.00. Following the acquisition, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Clay B. Siegall purchased 66,057 shares of Immunome stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $9.54 per share, for a total transaction of $630,183.78. Following the transaction, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 102,862 shares of company stock valued at $978,045 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Immunome

A number of institutional investors and hedge funds have recently bought and sold shares of IMNM. FMR LLC increased its position in shares of Immunome by 0.3% during the third quarter. FMR LLC now owns 4,224,700 shares of the company’s stock worth $61,765,000 after purchasing an additional 13,757 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Immunome by 10.3% in the third quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after acquiring an additional 324,614 shares during the period. Geode Capital Management LLC grew its position in shares of Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after acquiring an additional 144,557 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Immunome by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock worth $10,684,000 after purchasing an additional 237,497 shares during the period. Finally, Point72 Asset Management L.P. grew its position in Immunome by 22.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 470,647 shares of the company’s stock worth $6,881,000 after purchasing an additional 85,580 shares during the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Company Profile

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.