Immunome (NASDAQ:IMNM) Shares Down 4%

Immunome, Inc. (NASDAQ:IMNM)’s stock price fell 4% during mid-day trading on Wednesday . The company traded as low as $13.44 and last traded at $13.48. 39,970 shares were traded during trading, a decline of 95% from the average session volume of 779,953 shares. The stock had previously closed at $14.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IMNM shares. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research report on Tuesday, August 13th. Piper Sandler dropped their target price on shares of Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Immunome currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Immunome Price Performance

The firm has a market capitalization of $858.72 million, a PE ratio of -1.86 and a beta of 1.78. The firm has a fifty day moving average price of $13.85 and a 200 day moving average price of $16.92.

Insiders Place Their Bets

In other news, Director Jean Jacques Bienaime acquired 7,000 shares of Immunome stock in a transaction on Friday, August 16th. The stock was bought at an average cost of $13.94 per share, with a total value of $97,580.00. Following the completion of the purchase, the director now owns 16,615 shares of the company’s stock, valued at $231,613.10. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jack Higgins sold 3,524 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $13.93, for a total transaction of $49,089.32. Following the transaction, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jean Jacques Bienaime acquired 7,000 shares of Immunome stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average cost of $13.94 per share, with a total value of $97,580.00. Following the completion of the purchase, the director now owns 16,615 shares in the company, valued at approximately $231,613.10. The disclosure for this purchase can be found here. Corporate insiders own 8.60% of the company’s stock.

Institutional Trading of Immunome

A number of institutional investors have recently bought and sold shares of IMNM. Northeast Financial Consultants Inc bought a new stake in Immunome in the second quarter worth $883,000. The Manufacturers Life Insurance Company boosted its stake in shares of Immunome by 52.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 166,928 shares of the company’s stock worth $2,020,000 after acquiring an additional 57,242 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Immunome by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after acquiring an additional 4,129 shares during the last quarter. AXA S.A. bought a new position in shares of Immunome in the 2nd quarter valued at approximately $2,174,000. Finally, Marshall Wace LLP boosted its position in Immunome by 228.5% during 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 period. Institutional investors and hedge funds 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.