Short Interest in Immunome, Inc. (NASDAQ:IMNM) Grows By 12.2%

Immunome, Inc. (NASDAQ:IMNM) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 9,870,000 shares, an increase of 12.2% from the December 31st total of 8,800,000 shares. Currently, 19.2% of the shares of the company are sold short. Based on an average trading volume of 787,000 shares, the days-to-cover ratio is presently 12.5 days.

Insider Activity

In related news, insider Robert Lechleider acquired 15,805 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $9.48 per share, with a total value of $149,831.40. Following the completion of the acquisition, the insider now directly owns 15,805 shares of the company’s stock, valued at $149,831.40. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clay B. Siegall acquired 66,057 shares of Immunome stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, with a total value of $630,183.78. Following the acquisition, the chief executive officer now directly 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. Over the last quarter, insiders bought 252,862 shares of company stock valued at $2,140,545. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Immunome

Institutional investors have recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC bought a new position in Immunome in the fourth quarter valued at about $123,000. AQR Capital Management LLC lifted its holdings in Immunome by 34.6% during the second 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 during the period. Intech Investment Management LLC bought a new position in Immunome during the third quarter worth about $219,000. Three Bridge Wealth Advisors LLC purchased a new stake in shares of Immunome in the fourth quarter worth about $293,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Immunome by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock worth $359,000 after buying an additional 1,520 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors.

Immunome Trading Down 6.4 %

Shares of NASDAQ:IMNM traded down $0.71 during trading on Monday, hitting $10.32. 1,122,794 shares of the company were exchanged, compared to its average volume of 1,001,049. The stock has a market cap of $644.14 million, a price-to-earnings ratio of -1.27 and a beta of 1.90. Immunome has a fifty-two week low of $8.97 and a fifty-two week high of $30.96. The firm has a fifty day moving average price of $11.34 and a two-hundred day moving average price of $12.68.

Analyst Ratings Changes

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

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.