Immunome (NASDAQ:IMNM) Shares Gap Up After Insider Buying Activity

Shares of Immunome, Inc. (NASDAQ:IMNM) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $10.32, but opened at $11.16. Immunome shares last traded at $10.87, with a volume of 472,104 shares traded.

Specifically, CEO Clay B. Siegall acquired 150,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $7.75 per share, with a total value of $1,162,500.00. Following the transaction, the chief executive officer now owns 669,636 shares of the company’s stock, valued at $5,189,679. The trade was a 28.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research report on Monday, January 13th. Piper Sandler reduced their price target on Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Stephens initiated coverage on Immunome in a report on Friday, November 8th. They issued an “overweight” rating and a $30.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $28.60.

Immunome Trading Up 4.0 %

The stock has a market capitalization of $670.08 million, a PE ratio of -1.32 and a beta of 1.90. The firm has a 50 day moving average of $11.34 and a two-hundred day moving average of $12.68.

Hedge Funds Weigh In On Immunome

Several hedge funds have recently bought and sold shares of the company. Stoneridge Investment Partners LLC purchased a new position in Immunome during the fourth quarter worth $123,000. AQR Capital Management LLC grew its position 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. Intech Investment Management LLC purchased a new stake in shares of Immunome in the third quarter valued at $219,000. Three Bridge Wealth Advisors LLC purchased a new stake in shares of Immunome in the fourth quarter valued at $293,000. Finally, JPMorgan Chase & Co. grew its position 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. 44.58% of the stock is owned by hedge funds and other institutional investors.

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.