Short Interest in Immunome, Inc. (NASDAQ:IMNM) Grows By 12.2%

Immunome, Inc. (NASDAQ:IMNM) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 9,870,000 shares, an increase of 12.2% from the December 15th total of 8,800,000 shares. Based on an average daily volume of 787,000 shares, the days-to-cover ratio is currently 12.5 days. Currently, 19.2% of the shares of the company are short sold.

Insider Activity

In other news, CTO Philip Tsai acquired 21,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price of $9.43 per share, with a total value of $198,030.00. Following the completion of the acquisition, the chief technology officer now directly owns 21,000 shares of the company’s stock, valued at approximately $198,030. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Lechleider bought 15,805 shares of the stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $149,831.40. Following the acquisition, the insider now owns 15,805 shares of the company’s stock, valued at $149,831.40. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 102,862 shares of company stock valued at $978,045 over the last ninety days. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Immunome

A number of institutional investors have recently bought and sold shares of IMNM. AQR Capital Management LLC raised its position in shares of Immunome by 34.6% during the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock valued at $194,000 after buying an additional 4,129 shares during the last quarter. Intech Investment Management LLC purchased a new position in Immunome during the third quarter valued at $219,000. Profund Advisors LLC bought a new stake in Immunome in the 2nd quarter valued at $262,000. JPMorgan Chase & Co. lifted its stake in Immunome by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock worth $359,000 after purchasing an additional 1,520 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Immunome during the 3rd quarter valued at about $363,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Stock Up 1.3 %

NASDAQ:IMNM traded up $0.13 during trading hours on Friday, hitting $9.99. 900,280 shares of the stock traded hands, compared to its average volume of 718,408. The stock has a 50 day moving average price of $11.47 and a 200 day moving average price of $12.90. The company has a market cap of $623.58 million, a price-to-earnings ratio of -1.23 and a beta of 1.90. Immunome has a 1 year low of $8.97 and a 1 year high of $30.96.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IMNM. Stephens initiated coverage on shares of Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $33.00 price target on shares of Immunome in a research report on Monday, January 13th. Finally, Piper Sandler cut their price objective on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $28.83.

About Immunome

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.