Truist Financial Initiates Coverage on Immunome (NASDAQ:IMNM)

Stock analysts at Truist Financial initiated coverage on shares of Immunome (NASDAQ:IMNM) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $36.00 price target on the stock. Truist Financial’s price target indicates a potential upside of 110.65% from the stock’s previous close.

A number of other analysts have also issued reports on IMNM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immunome in a research note on Wednesday, October 8th. Craig Hallum started coverage on shares of Immunome in a report on Friday, September 5th. They set a “buy” rating and a $26.00 price target for the company. Evercore ISI started coverage on shares of Immunome in a research note on Friday, August 22nd. They set an “outperform” rating and a $18.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Immunome in a report on Monday, September 22nd. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and set a $21.00 target price on shares of Immunome in a research note on Friday, November 7th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Immunome Price Performance

NASDAQ:IMNM opened at $17.09 on Monday. The business’s 50-day moving average is $15.62 and its two-hundred day moving average is $11.66. The firm has a market capitalization of $1.57 billion, a PE ratio of -5.79 and a beta of 2.17. Immunome has a 12 month low of $5.15 and a 12 month high of $19.16.

Immunome (NASDAQ:IMNM) last posted its earnings results on Thursday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.50%. Equities analysts anticipate that Immunome will post -2.21 EPS for the current year.

Hedge Funds Weigh In On Immunome

Several large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its holdings in Immunome by 37.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company’s stock valued at $50,843,000 after buying an additional 2,054,640 shares during the last quarter. Redmile Group LLC lifted its holdings in Immunome by 11.0% during the 1st quarter. Redmile Group LLC now owns 5,361,187 shares of the company’s stock worth $36,081,000 after buying an additional 533,161 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Immunome by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,893,626 shares of the company’s stock worth $57,304,000 after acquiring an additional 368,674 shares in the last quarter. EcoR1 Capital LLC grew its position in shares of Immunome by 5.2% in the 1st quarter. EcoR1 Capital LLC now owns 4,079,415 shares of the company’s stock worth $27,454,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Primecap Management Co. CA increased its holdings in shares of Immunome by 1,115.7% in the 1st quarter. Primecap Management Co. CA now owns 3,413,700 shares of the company’s stock valued at $22,974,000 after acquiring an additional 3,132,900 shares during the last quarter. Institutional investors 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.