Immunome (NASDAQ:IMNM) Trading Down 5.6% After Insider Selling

Immunome, Inc. (NASDAQ:IMNM)’s stock price fell 5.6% on Monday following insider selling activity. The company traded as low as $14.05 and last traded at $14.15. 319,038 shares were traded during trading, a decline of 59% from the average session volume of 780,663 shares. The stock had previously closed at $14.99.

Specifically, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total transaction of $230,223.80. Following the transaction, the chief financial officer now directly owns 47,476 shares of the company’s stock, valued at $760,090.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IMNM shares. Wedbush reissued an “outperform” rating and set a $33.00 price objective on shares of Immunome in a report on Tuesday, August 13th. Piper Sandler dropped their price objective on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $29.00.

Immunome Price Performance

The company has a market capitalization of $876.15 million, a PE ratio of -1.94 and a beta of 1.77. The firm’s fifty day simple moving average is $14.54 and its 200 day simple moving average is $15.86.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.11). Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. The business had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $2.62 million. On average, equities research analysts anticipate that Immunome, Inc. will post -1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Immunome

Several hedge funds have recently added to or reduced their stakes in the business. Northeast Financial Consultants Inc purchased a new stake in Immunome in the second quarter valued at $883,000. The Manufacturers Life Insurance Company boosted its holdings in Immunome by 52.2% in the second quarter. The Manufacturers Life Insurance Company now owns 166,928 shares of the company’s stock valued at $2,020,000 after purchasing an additional 57,242 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Immunome by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after acquiring an additional 4,129 shares in the last quarter. AXA S.A. purchased a new stake in shares of Immunome during the 2nd quarter worth about $2,174,000. Finally, Marshall Wace LLP boosted its stake in shares of Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after acquiring an additional 1,191,774 shares in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.