Immunome Receives 'Outperform' Rating from Wedbush

Immunome (NASDAQ:IMNM) has garnered attention from analysts as Wedbush reiterated its 'outperform' rating for the company. In a research report published on Monday, Wedbush established a price target of $33.00 for Immunome's shares. This target suggests a significant potential upside of approximately 228.69% based on the stock's close price from the previous session.

In addition to Wedbush, other analysts have also started to cover Immunome recently. For instance, Stephens initiated coverage on November 8 and assigned an 'overweight' rating along with a target price of $30.00. Meanwhile, Piper Sandler revised its price objective for Immunome from $23.00 down to $21.00, while maintaining an 'overweight' rating in a note released on November 14.

According to MarketBeat.com, a total of seven investment analysts have given Immunome a buy rating. Overall, the stock holds a consensus rating of 'Buy' with an average price target of around $28.83.

Current Stock Performance

On Monday, shares of Immunome traded down by 5.3%, reaching $10.04. During the trading session, the stock experienced a volume of 1,035,892 shares, which is considerably higher than its average trading volume of 637,222. Immunome’s current market capitalization stands at $626.67 million, with a price-to-earnings (PE) ratio of -1.24 and a beta of 1.90. The fifty-day moving average for the stock is $11.77, whereas the two-hundred-day moving average is $12.99. Immunome has also recorded a 52-week low at $8.97 and a high of $30.96.

Insider Transactions

Recent insider activity indicates growing interest in the company. For example, on November 21, Chief Technology Officer Philip Tsai acquired 21,000 shares of the company at an average price of $9.43 per share, totaling approximately $198,030. Following this transaction, Tsai's total holdings in Immunome now amount to 21,000 shares. Additionally, insider Robert Lechleider purchased 15,805 shares on the same day at an average price of $9.48, resulting in a total investment of about $149,831.40. With these moves, insiders have accumulated 102,862 shares worth approximately $978,045 over the last quarter, representing 8.60% of the company's stock being held by insiders.

Changes in Institutional Holdings

Recently, several institutional investors have adjusted their positions in Immunome. FMR LLC increased its stake by 0.3% during the third quarter and now holds 4,224,700 shares valued at about $61.77 million. Likewise, Janus Henderson Group PLC raised its stake by 10.3%, owning 3,488,121 shares worth around $50.97 million. Additionally, Marshall Wace LLP made significant gains, growing its stake by 228.5% and now owns 1,713,325 shares valued at roughly $20.73 million.

Geode Capital Management LLC also boosted its stakes by 13.6% in the third quarter, owning 1,207,455 shares valued at $17.66 million. Victory Capital Management increased its holdings by 48.1%, now having 730,785 shares valued at about $10.68 million. Overall, institutional investors currently hold 44.58% of Immunome’s shares.

About Immunome, Inc.

Immunome, Inc. is a biotechnology company focused on developing innovative therapies for cancer. The firm's clinical developments include AL102, which is a gamma secretase inhibitor currently undergoing evaluation in a Phase 3 trial to treat desmoid tumors. The company also has several preclinical assets, including IM-1021, an orphan receptor candidate, IM-3050, which is targeted at fibroblast activation protein, and IM-4320, an anti-IL-38 immunotherapy candidate.

Immunome, Wedbush, Stocks