Immunome Reports Quarterly Earnings Miss, Stock Updates and Analyst Insights

Immunome (NASDAQ:IMNM) released its quarterly earnings data on Wednesday, showcasing a significant miss in analyst expectations. The company reported earnings per share (EPS) of ($0.84) for the quarter, falling short of consensus estimates which were set at ($0.68). This results in a negative return on equity of 48.63% and an alarming negative net margin of 3,014.59%.

Immunome Stock Performance

During midday trading on Wednesday, Immunome's stock rose by $0.21, reaching a price of $8.57. The trading volume included 522,477 shares exchanged, which is lower than its average volume of 810,302. The company has experienced a 52-week low of $8.34 and a high of $26.70. Immunome’s market capitalization stands at $683.69 million, with a price-to-earnings ratio of -1.06, and a beta of 1.93. The 50-day simple moving average for the stock is $9.89, and its 200-day simple moving average is $11.66.

Insider Buying and Selling Activity

In related news, Immunome’s CEO, Clay B. Siegall, made headlines by purchasing 150,000 shares of the company's stock on January 31st, at an average price of $7.75 per share, totaling $1,162,500. This acquisition increased his total ownership to 669,636 shares, valued at approximately $5,189,679, reflecting a 28.87% increase in his position. This transaction was disclosed in a filing with the Securities and Exchange Commission (SEC). Currently, corporate insiders own about 8.60% of the stock.

Analyst Price Targets and Ratings

Several research firms have begun analyzing Immunome’s stock. Lifesci Capital initiated coverage on March 11th, giving the stock an 'outperform' rating along with a price target of $20.00. Similarly, Wedbush reaffirmed an 'outperform' rating on March 10th and set a price target of $33.00 for Immunome shares. Overall, six research analysts have issued a buy rating for the stock, leading to a consensus rating of 'Buy' with an average price target of $27.17, according to MarketBeat.com.

Company Overview

Immunome, Inc. is a biotech firm focused on developing targeted cancer therapies. Their clinical asset, AL102, is a gamma secretase inhibitor currently under evaluation in a Phase 3 trial aimed at treating desmoid tumors. The company also holds several preclinical assets, including IM-1021, an antibody-drug conjugate targeting receptor tyrosine kinase-like orphan receptor 1; IM-3050, which utilizes a fibroblast activation protein-targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.

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