Immunome (NASDAQ:IMNM) Shares Down 5.7% – Here’s Why

Immunome, Inc. (NASDAQ:IMNM)’s share price traded down 5.7% during mid-day trading on Friday . The company traded as low as $10.47 and last traded at $10.47. 110,281 shares traded hands during trading, a decline of 86% from the average session volume of 779,801 shares. The stock had previously closed at $11.10.

Wall Street Analyst Weigh In

Several equities analysts have commented on IMNM shares. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Friday, October 25th. Piper Sandler dropped their price objective on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Stephens began coverage on shares of Immunome in a report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $28.83.

Immunome Stock Performance

The firm has a market capitalization of $655.38 million, a P/E ratio of -1.29 and a beta of 1.83. The stock’s 50 day simple moving average is $12.05 and its 200 day simple moving average is $13.24.

Insider Buying and Selling

In other Immunome news, CTO Philip Tsai acquired 21,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $9.43 per share, with a total value of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares in the company, valued at $198,030. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clay B. Siegall bought 66,057 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were acquired at an average cost of $9.54 per share, for a total transaction of $630,183.78. Following the transaction, the chief executive officer now directly owns 485,693 shares in the company, valued at approximately $4,633,511.22. This trade represents a 15.74 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 102,862 shares of company stock valued at $978,045 over the last quarter. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immunome

Several hedge funds have recently modified their holdings of the business. Quest Partners LLC purchased a new stake in Immunome during the second quarter worth $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Immunome in the second quarter worth about $97,000. Arizona State Retirement System lifted its position in shares of Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after buying an additional 918 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Immunome in the 3rd quarter valued at about $219,000. Finally, AQR Capital Management LLC grew its position in shares of Immunome by 34.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after buying an additional 4,129 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

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.