Brokerages Set Immunome, Inc. (NASDAQ:IMNM) Price Target at $29.80

Immunome, Inc. (NASDAQ:IMNM) has been assigned a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $29.80.

Several brokerages have weighed in on IMNM. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Immunome in a research report on Thursday. Guggenheim began coverage on shares of Immunome in a research report on Monday, April 15th. They set a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Immunome in a research report on Tuesday, April 30th. They set an “overweight” rating and a $24.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Immunome in a research report on Friday, May 31st. They set an “overweight” rating and a $27.00 target price on the stock.

Immunome Stock Up 3.0 %

Shares of Immunome stock opened at $16.51 on Wednesday. The company’s 50-day simple moving average is $13.81 and its 200-day simple moving average is $17.62. Immunome has a 52-week low of $6.13 and a 52-week high of $30.96. The firm has a market cap of $990.10 million, a price-to-earnings ratio of -2.19 and a beta of 1.79.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.46. Immunome had a negative net margin of 1,829.44% and a negative return on equity of 37.33%. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $4.00 million. Equities research analysts anticipate that Immunome will post -1.45 EPS for the current year.

Insider Buying and Selling at Immunome

In other Immunome news, Director Jean Jacques Bienaime purchased 2,000 shares of Immunome stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $13.57 per share, with a total value of $27,140.00. Following the completion of the acquisition, the director now directly owns 9,615 shares of the company’s stock, valued at $130,475.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

Several institutional investors and hedge funds have recently modified their holdings of the company. Redmile Group LLC lifted its stake in shares of Immunome by 26.0% during the first quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock valued at $120,674,000 after buying an additional 1,010,139 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Immunome by 113.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after buying an additional 1,194,451 shares during the period. Vanguard Group Inc. lifted its stake in shares of Immunome by 16.1% during the first quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock valued at $49,847,000 after buying an additional 279,712 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Immunome by 10.6% during the first quarter. Janus Henderson Group PLC now owns 1,538,414 shares of the company’s stock valued at $37,957,000 after buying an additional 146,943 shares during the period. Finally, Avidity Partners Management LP purchased a new position in shares of Immunome during the fourth quarter valued at approximately $14,268,000. 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.