Immunome (NASDAQ:IMNM) Given Buy Rating at HC Wainwright

Immunome (NASDAQ:IMNM)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $40.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 54.67% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Citigroup reiterated a “buy” rating on shares of Immunome in a report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research note on Friday, July 17th. Wedbush boosted their target price on shares of Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Truist Financial increased their price objective on Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Barclays assumed coverage on Immunome in a report on Thursday, May 28th. They set an “overweight” rating and a $36.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.64.

Immunome Trading Down 1.0%

Shares of NASDAQ IMNM opened at $25.86 on Thursday. Immunome has a 12-month low of $8.93 and a 12-month high of $30.06. The firm’s 50-day moving average price is $25.28 and its 200-day moving average price is $22.67. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -10.14 and a beta of 2.13.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). On average, equities analysts predict that Immunome will post -2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Lechleider sold 55,000 shares of Immunome stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $19.85, for a total value of $1,091,750.00. Following the sale, the insider owned 15,805 shares of the company’s stock, valued at approximately $313,729.25. This trade represents a 77.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Max Rosett sold 60,000 shares of the business’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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 682,310 shares of company stock worth $15,675,566. Company insiders own 7.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in Immunome during the 2nd quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Immunome in the second quarter valued at about $27,000. KBC Group NV acquired a new stake in shares of Immunome in the first quarter valued at about $60,000. BNP Paribas Financial Markets lifted its stake in shares of 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 buying an additional 2,909 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Immunome by 121.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock worth $65,000 after buying an additional 3,802 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

About Immunome

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.