Immunome (NASDAQ:IMNM) Releases Quarterly Earnings, Falls Short of Expectations

Immunome (NASDAQ:IMNM) announced its quarterly earnings on Wednesday. The company reported an earnings per share (EPS) of ($0.84), which was below analysts' expectations of ($0.68) by a margin of ($0.16), according to reports from Zacks. Additionally, Immunome posted a negative return on equity of 48.63% and a staggering negative net margin of 3,014.59%.

Immunome Stock Performance

During midday trading on Wednesday, Immunome's stock saw an increase of $0.21, bringing its price to $8.57. A total of 522,477 shares were traded, compared to an average trading volume of 810,302 shares. The company’s stock has recorded a 52-week low of $8.34 and a high of $26.70. As of now, the firm's market capitalization sits at approximately $683.69 million, with a price-to-earnings ratio of -1.06 and a beta value of 1.93. The stock's 50-day moving average stands at $9.89, while the 200-day moving average is at $11.66.

Insider Transactions

In related news, Immunome's CEO, Clay B. Siegall, made a significant investment by purchasing 150,000 shares of the company on January 31st. The shares were bought at an average price of $7.75 each, totaling $1,162,500. Following this transaction, the CEO now owns 669,636 shares, valued at approximately $5,189,679, marking a 28.87% increase in his holdings. This transaction has been reported to the SEC, and it appears that 8.60% of the company's stock is currently held by insiders.

Analyst Ratings and Price Targets

Research firms have begun to evaluate Immunome’s stock, with several issuing new price targets. Lifesci Capital initiated coverage with an “outperform” rating and set a price target of $20.00 on the stock. On the other hand, Wedbush reaffirmed an “outperform” rating and established a higher price target of $33.00. Currently, six equity research analysts rate Immunome with a buy rating. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $27.17.

Company Overview

Immunome, Inc. is a biotechnology firm that focuses on developing targeted cancer therapies. Its leading clinical asset is AL102, an investigational gamma secretase inhibitor that is currently undergoing evaluation in a Phase 3 trial aimed at treating desmoid tumors. Additionally, Immunome has preclinical assets, including IM-1021, IM-3050, and IM-4320, which represent various therapeutic candidates designed for distinct cancer treatment approaches.

For further insights and information, it is advisable to explore analyst reports and recent news regarding Immunome.

Immunome, Earnings, Stock