Immunome (NASDAQ:IMNM) Stock Price Down 5.4% – Time to Sell?
by Jessica Moore · The Cerbat GemImmunome, Inc. (NASDAQ:IMNM – Get Free Report) shares fell 5.4% during trading on Friday . The stock traded as low as $21.90 and last traded at $21.7280. 247,516 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,358,743 shares. The stock had previously closed at $22.96.
Wall Street Analysts Forecast Growth
Several research firms recently commented on IMNM. Craig Hallum lifted their price target on Immunome from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Truist Financial upgraded Immunome to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Immunome from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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, Stephens dropped their target price on Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Immunome currently has a consensus rating of “Moderate Buy” and an average price target of $32.82.
Get Our Latest Analysis on IMNM
Immunome Price Performance
The company has a 50-day simple moving average of $21.94 and a 200-day simple moving average of $21.36. The firm has a market cap of $2.51 billion, a PE ratio of -9.29 and a beta of 2.11.
Immunome (NASDAQ:IMNM – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.12. As a group, equities research analysts predict that Immunome, Inc. will post -2.26 earnings per share for the current year.
Insider Activity at Immunome
In other news, CFO Max Rosett sold 65,000 shares of Immunome stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total transaction of $1,424,800.00. Following the completion of the sale, the chief financial officer owned 54,037 shares of the company’s stock, valued at approximately $1,184,491.04. The trade was a 54.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jack Higgins sold 9,438 shares of Immunome stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $21.64, for a total transaction of $204,238.32. Following the sale, the insider directly owned 22,000 shares of the company’s stock, valued at $476,080. This represents a 30.02% 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. Over the last ninety days, insiders sold 139,438 shares of company stock worth $2,964,664. Insiders own 7.21% of the company’s stock.
Institutional Trading of Immunome
Several institutional investors and hedge funds have recently modified their holdings of IMNM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Immunome by 44.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company’s stock valued at $316,000 after acquiring an additional 14,398 shares in the last quarter. Creative Planning bought a new position in Immunome in the second quarter worth approximately $167,000. Rhumbline Advisers raised its stake in Immunome by 22.0% in the second quarter. Rhumbline Advisers now owns 108,414 shares of the company’s stock worth $1,008,000 after buying an additional 19,526 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Immunome by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 280,816 shares of the company’s stock worth $2,612,000 after buying an additional 9,686 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Immunome in the second quarter worth approximately $1,021,000. 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.