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A company insider recently bought 20,434 shares of Immunome Inc [IMNM]. Should You Buy?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Immunome Inc shares valued at $281,548 were purchased by SIEGALL CLAY B on May 21 ’24. At $13.78 per share, SIEGALL CLAY B acquired 20,434 shares. The insider’s holdings grew to 419,636 shares worth approximately $5.07 million following the completion of this transaction.

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Also, BIENAIME JEAN JACQUES purchased 2,000 shares, netting a total of over 27,140 in proceeds. Following the buying of shares at $13.57 each, the insider now holds 9,615 shares.

Before that, SIEGALL CLAY B had added 79,566 shares to its account. In a trade valued at $1,106,524, the President and CEO bought Immunome Inc shares for $13.91 each. Upon closing the transaction, the insider’s holdings increased to 79,566 shares, worth approximately $4.82 million.

As published in their initiating research note from Piper Sandler on May 31, 2024, Immunome Inc [IMNM] has been an Overweight and the price target has been revised to $27. Analysts at JP Morgan started covering the stock with ‘”an Overweight”‘ outlook in a report released in late April. As of April 15, 2024, Guggenheim has initiated its “Buy” rating for IMNM. Earlier on January 29, 2024, Leerink Partners initiated its rating. Their recommendation was “an Outperform” for IMNM stock.

Analyzing IMNM Stock Performance

During the last five days, there has been a surge of approximately 0.42%. Over the course of the year, Immunome Inc shares have jumped approximately 12.90%. Shares of the company reached a 52-week high of $30.96 on 03/07/24 and a 52-week low of $10.38 on 01/02/24. A 50-day SMA is recorded $14.22, while a 200-day SMA reached $14.29. Nevertheless, trading volume fell to 0.37 million shares from 0.92 million shares the previous day.

Support And Resistance Levels for Immunome Inc (IMNM)

According to the 24-hour chart, there is a support level at 11.81, which, if violated, would cause prices to drop to 11.49. In the upper region, resistance lies at 12.34. The next price resistance is at 12.55. RSI (Relative Strength Index) is 36.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.71, which suggests the price will decrease in the coming days. Percent R is at 80.94%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.

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