Immunome (NASDAQ:IMNM) Coverage Initiated at Lake Street Capital

Lake Street Capital initiated coverage on shares of Immunome (NASDAQ:IMNM) in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $23.00 price objective on the stock.

A number of other analysts have also issued reports on IMNM. Lifesci Capital initiated coverage on Immunome in a research note on Tuesday, March 11th. They set an “outperform” rating and a $20.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and set a $30.00 target price on shares of Immunome in a report on Thursday, March 20th. Wedbush reissued an “outperform” rating and issued a $33.00 price target on shares of Immunome in a report on Thursday, March 20th. Finally, Guggenheim reduced their price objective on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $25.14.

Immunome Stock Up 7.2 %

IMNM opened at $6.71 on Wednesday. The firm has a 50-day moving average price of $9.29 and a 200-day moving average price of $11.13. Immunome has a twelve month low of $6.19 and a twelve month high of $22.03. The company has a market capitalization of $583.44 million, a price-to-earnings ratio of -0.83 and a beta of 1.93.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The business had revenue of $2.74 million during the quarter, compared to analysts’ expectations of $3.07 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. On average, sell-side analysts expect that Immunome will post -2.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Clay B. Siegall bought 150,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $7.75 per share, with a total value of $1,162,500.00. Following the completion of the purchase, the chief executive officer now directly owns 669,636 shares of the company’s stock, valued at $5,189,679. This trade represents a 28.87 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Philip Tsai purchased 12,300 shares of the business’s stock in a transaction on Monday, March 24th. The stock was bought at an average cost of $8.42 per share, with a total value of $103,566.00. Following the purchase, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. This represents a 58.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 306,400 shares of company stock worth $2,322,995. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Immunome in the 3rd quarter worth about $219,000. Charles Schwab Investment Management Inc. boosted its stake in Immunome by 217.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 442,477 shares of the company’s stock worth $6,469,000 after buying an additional 302,916 shares in the last quarter. Cerity Partners LLC grew its position in Immunome by 10.5% during the third quarter. Cerity Partners LLC now owns 53,103 shares of the company’s stock valued at $776,000 after acquiring an additional 5,043 shares during the last quarter. FMR LLC raised its stake in shares of 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 acquiring an additional 13,757 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Immunome by 129.1% during the third quarter. MetLife Investment Management LLC now owns 30,265 shares of the company’s stock worth $442,000 after acquiring an additional 17,053 shares in the last quarter. Institutional investors own 44.58% of the company’s stock.

Immunome Company Profile

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.