Immunome (NASDAQ:IMNM) Given “Overweight” Rating at Stephens

Immunome (NASDAQ:IMNM)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $30.00 target price on the stock. Stephens’ price objective would indicate a potential upside of 250.39% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Guggenheim cut their price target on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Immunome in a report on Monday, March 10th. Finally, Lifesci Capital assumed coverage on shares of Immunome in a report on Tuesday, March 11th. They set an “outperform” rating and a $20.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $25.50.

Immunome Stock Performance

Shares of NASDAQ:IMNM opened at $8.56 on Thursday. The company has a 50-day simple moving average of $9.84 and a 200-day simple moving average of $11.64. Immunome has a one year low of $8.30 and a one year high of $26.70. The stock has a market capitalization of $683.05 million, a price-to-earnings ratio of -1.06 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last announced its earnings results on Wednesday, March 19th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The business had revenue of $2.74 million during the quarter, compared to analysts’ expectations of $3.07 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. As a group, research analysts forecast that Immunome will post -2.21 EPS for the current fiscal year.

Insider Activity

In other news, CEO Clay B. Siegall purchased 150,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the transaction, the chief executive officer now directly owns 669,636 shares in the company, valued at $5,189,679. This represents a 28.87 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Enavate Sciences GP LLC acquired a new stake in shares of Immunome during the fourth quarter valued at $36,939,000. JPMorgan Chase & Co. boosted its stake in shares of Immunome by 2,540.4% during the fourth quarter. JPMorgan Chase & Co. now owns 648,610 shares of the company’s stock valued at $6,888,000 after acquiring an additional 624,045 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Immunome by 10.3% during 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 last quarter. Granahan Investment Management LLC acquired a new stake in shares of Immunome during the fourth quarter valued at $3,337,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Immunome by 2,696.5% during the fourth quarter. Renaissance Technologies LLC now owns 316,000 shares of the company’s stock valued at $3,356,000 after acquiring an additional 304,700 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.