Immunome, Inc. (NASDAQ:IMNM) Short Interest Down 8.2% in November

Immunome, Inc. (NASDAQ:IMNM) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 9,790,000 shares, a decrease of 8.2% from the November 15th total of 10,670,000 shares. Currently, 19.3% of the company’s stock are short sold. Based on an average daily volume of 787,600 shares, the days-to-cover ratio is presently 12.4 days.

Immunome Trading Down 1.1 %

Shares of IMNM opened at $12.44 on Tuesday. The stock has a 50 day moving average of $12.22 and a 200 day moving average of $13.43. Immunome has a 12 month low of $7.48 and a 12 month high of $30.96. The company has a market capitalization of $776.47 million, a price-to-earnings ratio of -1.53 and a beta of 1.83.

Analysts Set New Price Targets

IMNM has been the topic of a number of research analyst reports. Piper Sandler dropped their target price on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research report on Friday, October 25th. Finally, Stephens began coverage on Immunome in a report on Friday, November 8th. They set an “overweight” rating and a $30.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $28.83.

Insider Buying and Selling

In other Immunome news, CEO Clay B. Siegall purchased 66,057 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $9.54 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Philip Tsai purchased 21,000 shares of the stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $9.43 per share, for a total transaction of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares in the company, valued at approximately $198,030. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 102,862 shares of company stock valued at $978,045. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Immunome

A number of institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of Immunome during the second quarter worth about $81,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Immunome in the 2nd quarter valued at $97,000. Arizona State Retirement System raised its position in Immunome by 9.2% in the 2nd quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares during the period. AQR Capital Management LLC lifted its stake in Immunome by 34.6% in the second 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 during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Immunome during the second quarter valued at about $206,000. 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.