Immunome (NASDAQ:IMNM) Sets New 12-Month High – Here’s Why

Immunome, Inc. (NASDAQ:IMNM)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $28.84 and last traded at $29.00, with a volume of 267207 shares trading hands. The stock had previously closed at $27.56.

Analyst Ratings Changes

A number of research firms have weighed in on IMNM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a research note on Friday, July 17th. Wall Street Zen lowered Immunome from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. HC Wainwright reaffirmed a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Leerink Partners dropped their target price on Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, Citigroup reissued a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.64.

Immunome Trading Down 5.9%

The business has a 50-day simple moving average of $22.98 and a 200 day simple moving average of $22.30. The stock has a market cap of $3.19 billion, a P/E ratio of -11.10 and a beta of 2.08.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). As a group, equities analysts expect that Immunome, Inc. will post -2.38 earnings per share for the current year.

Insider Transactions at Immunome

In other Immunome news, CFO Max Rosett sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $18.23, for a total value of $1,093,800.00. Following the completion of the sale, the chief financial officer owned 54,037 shares of the company’s stock, valued at approximately $985,094.51. This trade represents a 52.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $19.85, for a total transaction of $1,091,750.00. Following the transaction, the insider owned 15,805 shares in the company, valued at approximately $313,729.25. The trade was a 77.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 682,310 shares of company stock worth $15,675,566 in the last three months. Insiders own 7.21% of the company’s stock.

Hedge Funds Weigh In On Immunome

Several hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of Immunome in the 2nd quarter worth approximately $25,000. KBC Group NV bought a new stake in Immunome during the first quarter worth $60,000. BNP Paribas Financial Markets boosted its position in Immunome by 81.8% in the second quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after purchasing an additional 2,909 shares during the last quarter. Strs Ohio purchased a new position in Immunome in the fourth quarter worth $64,000. Finally, Tower Research Capital LLC TRC grew its stake in Immunome by 121.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after purchasing an additional 3,802 shares during the period. Institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.