Piper Sandler Issues Pessimistic Forecast for Immunome (NASDAQ:IMNM) Stock Price

by · The Markets Daily

Immunome (NASDAQ:IMNM – Get Free Report) had its target price dropped by stock analysts at Piper Sandler from $23.00 to $21.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 81.19% from the stock’s previous close.

IMNM has been the subject of several other reports. Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a report on Friday, October 25th. Stephens initiated coverage on Immunome in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Immunome currently has an average rating of “Buy” and a consensus target price of $28.83.

Read Our Latest Report on Immunome

Immunome Stock Performance

NASDAQ:IMNM opened at $11.59 on Thursday. The stock has a market cap of $695.98 million, a price-to-earnings ratio of -1.51 and a beta of 1.82. Immunome has a 1 year low of $6.93 and a 1 year high of $30.96. The business has a fifty day moving average of $13.25 and a 200-day moving average of $13.84.

Immunome (NASDAQ:IMNM – Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.11). Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. The company had revenue of $2.36 million during the quarter, compared to the consensus estimate of $2.62 million. On average, equities research analysts predict that Immunome will post -1.92 EPS for the current year.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime acquired 7,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $13.94 per share, for a total transaction of $97,580.00. Following the transaction, the director now owns 16,615 shares of the company’s stock, valued at approximately $231,613.10. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Immunome news, CFO Max Rosett sold 14,380 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the completion of the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at $760,090.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $13.94 per share, for a total transaction of $97,580.00. Following the acquisition, the director now directly owns 16,615 shares of the company’s stock, valued at $231,613.10. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immunome

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMNM. Price T Rowe Associates Inc. MD lifted its holdings in shares of Immunome by 113.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after purchasing an additional 1,194,451 shares in the last quarter. Marshall Wace LLP boosted its position in Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after acquiring an additional 1,191,774 shares during the period. Redmile Group LLC grew its stake in Immunome by 26.0% during the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock valued at $120,674,000 after acquiring an additional 1,010,139 shares in the last quarter. Farallon Capital Management LLC purchased a new position in Immunome during the 1st quarter valued at about $14,660,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Immunome in the 1st quarter valued at about $10,994,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

About Immunome

(Get Free Report)

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.

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