Immunome (NASDAQ:IMNM) Shares Gap Up – Time to Buy?

Shares of Immunome, Inc. (NASDAQ:IMNM) gapped up prior to trading on Thursday . The stock had previously closed at $10.11, but opened at $10.63. Immunome shares last traded at $10.73, with a volume of 118,600 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have 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 report on Thursday, November 14th. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Monday. Finally, Stephens initiated coverage on shares of Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $28.83.

Immunome Stock Performance

The stock’s 50 day moving average price is $11.59 and its 200 day moving average price is $12.94. The company has a market capitalization of $674.76 million, a P/E ratio of -1.33 and a beta of 1.90.

Insider Buying and Selling at Immunome

In related news, CEO Clay B. Siegall acquired 66,057 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the purchase, the chief executive officer now directly owns 485,693 shares of the company’s stock, valued at $4,633,511.22. The trade was a 15.74 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Lechleider purchased 15,805 shares of Immunome stock in a transaction on Thursday, November 21st. The stock was bought 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 approximately $149,831.40. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 102,862 shares of company stock valued at $978,045. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Immunome

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of Immunome in the 2nd quarter worth $81,000. Arizona State Retirement System grew its holdings in Immunome by 9.2% during the 2nd 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 in the last quarter. AQR Capital Management LLC lifted its stake in 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 purchasing an additional 4,129 shares in the last quarter. Intech Investment Management LLC bought a new position in Immunome in the 3rd quarter worth about $219,000. Finally, Profund Advisors LLC bought a new position in shares of Immunome in the 2nd quarter worth $262,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Immunome Company Profile

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.