Immunome (NASDAQ:IMNM) Cut to Sell at Wall Street Zen

Immunome (NASDAQ:IMNM) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities research analysts have also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Immunome in a report on Wednesday, May 13th. Leerink Partners reduced their price target on Immunome from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Craig Hallum boosted 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. Stephens reduced their price target on Immunome from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Finally, Barclays initiated coverage on Immunome in a research report on Thursday. They issued an “overweight” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Immunome has a consensus rating of “Moderate Buy” and an average price target of $33.17.

Immunome Trading Down 3.1%

Shares of IMNM stock opened at $21.83 on Friday. Immunome has a twelve month low of $7.96 and a twelve month high of $27.65. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -9.17 and a beta of 2.11. The stock has a fifty day simple moving average of $22.08 and a two-hundred day simple moving average of $21.58.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.12. Research analysts predict that Immunome will post -2.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Max Rosett sold 65,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $21.92, for a total value of $1,424,800.00. Following the completion of the transaction, the chief financial officer directly 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 position. 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, Director Philip Wagenheim sold 36,800 shares of the business’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $20.47, for a total value of $753,296.00. Following the completion of the transaction, the director directly owned 369,347 shares of the company’s stock, valued at approximately $7,560,533.09. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 139,438 shares of company stock valued at $2,964,664. 7.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. acquired a new position in Immunome during the 3rd quarter valued at about $39,000. KBC Group NV acquired a new position in Immunome during the 1st quarter valued at about $60,000. BNP Paribas Financial Markets increased its position in Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock valued at $60,000 after buying an additional 2,909 shares in the last quarter. Strs Ohio acquired a new position in Immunome during the 4th quarter valued at about $64,000. Finally, Tower Research Capital LLC TRC increased its position in Immunome by 121.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after buying an additional 3,802 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

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.