Short Interest in Immunome, Inc. (NASDAQ:IMNM) Grows By 5.9%

Immunome, Inc. (NASDAQ:IMNM) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 13,290,000 shares, an increase of 5.9% from the August 15th total of 12,550,000 shares. Currently, 27.1% of the company’s stock are short sold. Based on an average daily volume of 803,700 shares, the days-to-cover ratio is presently 16.5 days.

Immunome Stock Up 0.6 %

Shares of IMNM stock opened at $15.50 on Thursday. The stock’s 50-day moving average price is $14.40 and its 200 day moving average price is $16.25. The stock has a market capitalization of $929.52 million, a PE ratio of -2.05 and a beta of 1.77. Immunome has a 52-week low of $6.65 and a 52-week high of $30.96.

Immunome (NASDAQ:IMNM) last released 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 analyst estimates of $2.62 million. Analysts expect that Immunome will post -1.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

Institutional Trading of Immunome

Several hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Immunome by 9.2% during the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock worth $131,000 after purchasing an additional 918 shares in the last quarter. Clear Creek Financial Management LLC increased its position in Immunome by 18.2% during the 2nd quarter. Clear Creek Financial Management LLC now owns 26,188 shares of the company’s stock worth $317,000 after purchasing an additional 4,035 shares during the period. AQR Capital Management LLC raised its stake 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 worth $194,000 after buying an additional 4,129 shares in the last quarter. EntryPoint Capital LLC lifted 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 valued at $136,000 after buying an additional 5,466 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Immunome in the second quarter valued at approximately $81,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

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.