Wedbush Reiterates “Outperform” Rating for Immunome (NASDAQ:IMNM)

Immunome (NASDAQ:IMNM)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $31.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 35.49% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Barclays began coverage on Immunome in a report on Thursday, May 28th. They issued an “overweight” rating and a $36.00 price objective on the stock. Wall Street Zen cut Immunome from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Truist Financial lifted their target price on Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a research report on Friday, July 17th. Finally, Citigroup reiterated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Immunome presently has an average rating of “Moderate Buy” and a consensus price target of $33.17.

Immunome Stock Performance

Shares of IMNM stock opened at $22.88 on Tuesday. The firm’s 50 day moving average price is $21.00 and its 200-day moving average price is $21.93. Immunome has a one year low of $8.66 and a one year high of $27.65. The firm has a market cap of $2.59 billion, a P/E ratio of -9.61 and a beta of 2.07.

Immunome (NASDAQ:IMNM) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.12. As a group, research analysts predict that Immunome will post -2.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime acquired 10,500 shares of the business’s stock in a transaction on Friday, June 5th. The shares were bought at an average price of $19.45 per share, with a total value of $204,225.00. Following the completion of the acquisition, the director owned 43,415 shares in the company, valued at $844,421.75. This trade represents a 31.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Isaac Barchas sold 101,050 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the sale, the director owned 308,504 shares of the company’s stock, valued at $6,515,604.48. This represents a 24.67% 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. Insiders sold a total of 472,142 shares of company stock valued at $10,262,648 over the last three months. 7.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunome

Several large investors have recently bought and sold shares of the stock. Nan Fung Trinity HK Ltd. raised its position in Immunome by 20.7% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 714,553 shares of the company’s stock valued at $15,349,000 after purchasing an additional 122,450 shares during the last quarter. Vanguard Group Inc. grew its position in Immunome by 23.4% during the 4th quarter. Vanguard Group Inc. now owns 6,038,414 shares of the company’s stock worth $129,705,000 after purchasing an additional 1,144,788 shares during the last quarter. SG Americas Securities LLC increased its stake in Immunome by 1,749.3% in the fourth quarter. SG Americas Securities LLC now owns 162,168 shares of the company’s stock valued at $3,483,000 after purchasing an additional 153,399 shares during the period. Profund Advisors LLC increased its stake in Immunome by 121.7% in the fourth quarter. Profund Advisors LLC now owns 42,700 shares of the company’s stock valued at $917,000 after purchasing an additional 23,440 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Immunome in the fourth quarter valued at $3,652,000. Institutional investors and hedge funds 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.