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

Immunome, Inc. (NASDAQ:IMNM) experienced a notable rise in short interest throughout December. On December 31st, the total short interest reached 9,870,000 shares, marking an increase of 12.2% compared to the 8,800,000 shares reported on December 15th. With an average daily trading volume of 787,000 shares, this leads to a days-to-cover ratio of 12.5 days. Currently, around 19.2% of Immunome's shares are being shorted.

Insider Activity

On November 21st, CTO Philip Tsai purchased 21,000 shares of the company's stock at an average price of $9.43 per share, amounting to a total investment of $198,030. This acquisition increases his position to the same number of shares. The details of this transaction have been disclosed in a legal filing with the Securities and Exchange Commission (SEC). Similarly, insider Robert Lechleider bought 15,805 shares at an average cost of $9.48, totaling approximately $149,831.40. Following this trade, he now holds 15,805 shares as well. Over the past ninety days, insiders have collectively acquired a total of 102,862 shares valued at roughly $978,045, and corporate insiders now own 8.60% of the company's stock.

Institutional Investors Weigh In On Immunome

Recent transactions by several institutional investors indicate growing interest in Immunome. AQR Capital Management LLC increased its holdings by 34.6% in the second quarter, owning now 16,064 shares valued at $194,000 after acquiring an additional 4,129 shares in the last quarter. Intech Investment Management LLC also purchased a new stake during the third quarter, valued at $219,000. Profund Advisors LLC acquired shares valued at $262,000 in the second quarter, while JPMorgan Chase & Co. raised its stake by 6.6% to 24,565 shares worth $359,000 after purchasing 1,520 additional shares in the last quarter. Lastly, XTX Topco Ltd established a new position valued at approximately $363,000. Altogether, hedge funds and institutional investors control 44.58% of the company's shares.

Immunome Stock Up 1.3%

On trading day Friday, NASDAQ:IMNM rose by $0.13 to reach $9.99, with a total of 900,280 shares exchanged, surpassing the 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 market capitalization stands at $623.58 million, with a price-to-earnings ratio of -1.23 and a beta of 1.90. Over the past year, the stock hit a low of $8.97 and a high of $30.96.

Analysts Set New Price Targets

Several analysts have recently assessed Immunome's stock performance and outlook. Stephens initiated coverage with an 'overweight' rating and set a price target of $30.00 on November 8th. Wedbush reinforced an 'outperform' rating, projecting a price target of $33.00 on January 13th. Conversely, Piper Sandler reduced their price objective from $23.00 to $21.00 while maintaining an 'overweight' rating for the stock in their report on November 14th. Currently, seven analysts have rated Immunome with a 'buy' rating, resulting in an average target price of $28.83, according to MarketBeat.com.

About Immunome

Immunome, Inc. is a biotechnology firm focused on developing targeted therapies for cancer. Their primary clinical asset is AL102, an investigational gamma secretase inhibitor that is currently being evaluated in a Phase 3 trial for the treatment of desmoid tumors. Additionally, their preclinical assets include IM-1021, which targets a receptor tyrosine kinase-like orphan receptor 1, antibody-drug conjugates, IM-3050 aimed at fibroblast activation protein targeted radioligand therapy, and IM-4320, an anti-IL-38 immunotherapy candidate.

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