Immunome, Inc. (NASDAQ:IMNM) Sees Large Increase in Short Interest

Immunome, Inc. (NASDAQ:IMNM) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 9,870,000 shares, an increase of 12.2% from the December 15th total of 8,800,000 shares. Currently, 19.2% of the company’s shares are sold short. Based on an average daily volume of 787,000 shares, the days-to-cover ratio is presently 12.5 days.

Immunome Price Performance

Shares of NASDAQ IMNM traded up $0.13 during mid-day trading on Friday, reaching $9.99. The company’s stock had a trading volume of 900,280 shares, compared to its average volume of 718,408. The stock has a 50-day moving average of $11.47 and a two-hundred day moving average of $12.91. Immunome has a 1-year low of $8.97 and a 1-year high of $30.96.

Insider Buying and Selling

In related news, CEO Clay B. Siegall bought 66,057 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $9.54 per share, for a total transaction of $630,183.78. Following the completion of the transaction, the chief executive officer now owns 485,693 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. Also, CTO Philip Tsai acquired 21,000 shares of the stock in a transaction on Thursday, November 21st. The shares were acquired at an average price of $9.43 per share, with a total value of $198,030.00. Following the transaction, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 102,862 shares of company stock worth $978,045 in the last 90 days. 8.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immunome

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Immunome by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after purchasing an additional 1,520 shares during the period. AQR Capital Management LLC grew its holdings in shares of Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after purchasing an additional 4,129 shares during the period. Cerity Partners LLC grew its holdings in shares of Immunome by 10.5% in the third quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock valued at $776,000 after purchasing an additional 5,043 shares during the period. Primecap Management Co. CA grew its holdings in shares of Immunome by 4.5% in the third quarter. Primecap Management Co. CA now owns 280,800 shares of the company’s stock valued at $4,105,000 after purchasing an additional 12,000 shares during the period. Finally, FMR LLC boosted its stake in Immunome by 0.3% during the third quarter. FMR LLC now owns 4,224,700 shares of the company’s stock worth $61,765,000 after buying an additional 13,757 shares during the period. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stephens assumed coverage on shares of Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 price target for the company. 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 research report on Thursday, November 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a report on Monday, January 13th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $28.83.

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.