Immunome (NASDAQ:IMNM) Shares Gap Up – Here’s Why

Immunome, Inc. (NASDAQ:IMNM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $10.11, but opened at $10.63. Immunome shares last traded at $10.73, with a volume of 118,600 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IMNM. Piper Sandler lowered their target price on Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Stephens initiated coverage on shares of Immunome in a report on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $33.00 target price on shares of Immunome in a research report on Monday, January 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $28.83.

Immunome Trading Up 1.3 %

The stock has a fifty day simple moving average of $11.47 and a two-hundred day simple moving average of $12.90. The firm has a market cap of $623.58 million, a PE ratio of -1.23 and a beta of 1.90.

Insider Activity at Immunome

In related news, CTO Philip Tsai bought 21,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of $9.43 per share, with a total value of $198,030.00. Following the completion of the purchase, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at $198,030. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Clay B. Siegall purchased 66,057 shares of the business’s stock in a transaction on 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 owns 485,693 shares in the company, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 102,862 shares of company stock valued at $978,045. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Immunome

A number of hedge funds and other institutional investors have recently modified their holdings of IMNM. Rhumbline Advisers purchased a new position in shares of Immunome in the second quarter worth about $813,000. Renaissance Technologies LLC increased its stake in Immunome by 105.0% in the 2nd quarter. Renaissance Technologies LLC now owns 93,300 shares of the company’s stock worth $1,129,000 after purchasing an additional 47,782 shares during the period. Ensign Peak Advisors Inc bought a new stake in Immunome in the second quarter valued at approximately $1,379,000. Profund Advisors LLC purchased a new stake in shares of Immunome during the second quarter valued at approximately $262,000. Finally, Marshall Wace LLP grew its holdings in shares of Immunome by 228.5% in the second quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after purchasing an additional 1,191,774 shares during the last quarter. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

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.