Immunome (NASDAQ:IMNM) Trading Up 7.2% – What’s Next?

Shares of Immunome, Inc. (NASDAQ:IMNM) shot up 7.2% on Friday . The stock traded as high as $11.24 and last traded at $11.27. 690,704 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 869,716 shares. The stock had previously closed at $10.51.

Wall Street Analysts Forecast Growth

IMNM has been the topic of several recent analyst reports. Piper Sandler reduced their price objective 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. Wedbush reissued an “outperform” rating and issued a $33.00 target price on shares of Immunome in a report on Monday, January 13th. Finally, Stephens started coverage on shares of Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $28.60.

Immunome Price Performance

The firm has a market capitalization of $677.19 million, a PE ratio of -1.34 and a beta of 1.90. The business has a 50-day simple moving average of $11.34 and a 200-day simple moving average of $12.75.

Insider Buying and Selling

In other Immunome news, CTO Philip Tsai acquired 21,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price 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 in the company, valued at $198,030. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clay B. Siegall bought 66,057 shares of Immunome stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the purchase, the chief executive officer now owns 485,693 shares of the company’s stock, valued at approximately $4,633,511.22. This trade represents a 15.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 102,862 shares of company stock worth $978,045 over the last three months. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in Immunome by 10.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,488,121 shares of the company’s stock valued at $50,971,000 after buying an additional 324,614 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Immunome by 217.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock valued at $6,469,000 after purchasing an additional 302,916 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Immunome by 48.1% in the third quarter. Victory Capital Management Inc. now owns 730,785 shares of the company’s stock valued at $10,684,000 after purchasing an additional 237,497 shares during the period. Geode Capital Management LLC grew its stake in Immunome by 13.6% in the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock worth $17,657,000 after purchasing an additional 144,557 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings 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 period. 44.58% of the stock is currently owned by 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.