Immunome (NASDAQ:IMNM) Stock Price Down 7% on Analyst Downgrade

Shares of Immunome, Inc. (NASDAQ:IMNM) traded down 7% on Thursday after Piper Sandler lowered their price target on the stock from $23.00 to $21.00. Piper Sandler currently has an overweight rating on the stock. Immunome traded as low as $10.72 and last traded at $10.78. 270,345 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 751,930 shares. The stock had previously closed at $11.59.

A number of other research analysts also recently commented on IMNM. Stephens assumed coverage on shares of Immunome in a research note on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective on the stock. Wedbush reiterated an “outperform” rating and set a $33.00 price objective on shares of Immunome in a research note on Friday, October 25th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $28.83.

Insider Transactions at Immunome

In other 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 transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at approximately $760,090.76. This trade represents a 23.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IMNM. Swiss National Bank bought a new position in shares of Immunome in the 1st quarter worth about $1,762,000. Sei Investments Co. acquired a new stake in shares of Immunome in the 1st quarter worth about $469,000. Vanguard Group Inc. increased its holdings in shares of Immunome by 16.1% in the 1st quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock worth $49,847,000 after acquiring an additional 279,712 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Immunome by 602.1% in the 1st quarter. Acadian Asset Management LLC now owns 133,438 shares of the company’s stock worth $3,292,000 after acquiring an additional 114,433 shares during the period. Finally, EntryPoint Capital LLC increased its holdings in shares of Immunome by 21,864.0% in the 1st quarter. EntryPoint Capital LLC now owns 5,491 shares of the company’s stock worth $136,000 after acquiring an additional 5,466 shares during the period. 44.58% of the stock is currently owned by institutional investors.

Immunome Stock Performance

The stock’s fifty day moving average is $13.12 and its two-hundred day moving average is $13.80. The firm has a market cap of $594.83 million, a price-to-earnings ratio of -1.22 and a beta of 1.82.

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.