Immunome, Inc.

Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
On Wednesday, CEO Clay B. Siegall purchased $999,459 worth of Immunome, purchasing 137,100 shares at a cost of $7.29 each. Before this latest buy, Siegall bought IMNM on 3 other occasions during the past year, for a total cost of $3.51M at an average of $10.04 per share. Immunome is trading off about 7.2% on the day Monday. Bargain hunters have the opportunity to snag IMNM at a price even lower than Siegall did, with shares changing hands as low as $6.41 at last check today -- that's 12.1% below Siegall's purchase price.
VIDEO: Monday 3/31 Insider Buying Report: IMNM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Monday 3/31 Insider Buying Report: IMNM

Illumina (ILMN) came out with quarterly earnings of $1.14 per share, beating the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 31.03%. A quarter ago, it was expected that this genetic testing tools company would post earnings of $0.12 per share when it actually produced earnings of $0.36, delivering a surprise of 200%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Illumina, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $1.08 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.48%. This compares to year-ago revenues of $1.12 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Illumina shares have added about 7.6% since the beginning of the year versus the S&P 500's gain of 20.1%.
What's Next for Illumina?
While Illumina has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Illumina: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.93 on $1.1 billion in revenues for the coming quarter and $3.62 on $4.34 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Immunome, Inc. (IMNM), is yet to report results for the quarter ended September 2024.
This company is expected to post quarterly loss of $0.60 per share in its upcoming report, which represents a year-over-year change of -66.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Immunome, Inc.'s revenues are expected to be $3.6 million, up 0.7% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Illumina (ILMN) Tops Q3 Earnings and Revenue Estimates

Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Immunome (IMNM), a filing with the SEC revealed that on Tuesday, CEO Clay B. Siegall bought 100,000 shares of IMNM, for a cost of $13.88 each, for a total investment of $1.39M. So far Siegall is in the green, up about 9.7% on their buy based on today's trading high of $15.23. Immunome is trading up about 9.2% on the day Wednesday. Before this latest buy, Siegall made one other purchase in the past twelve months, buying $999,996 shares at a cost of $5.91 a piece.
And on Monday, VP - Chief Human Resources Off Marvin Boakye purchased $499,133 worth of Cummins (CMI), purchasing 1,745 shares at a cost of $286.04 a piece. This buy marks the first one filed by Boakye in the past year. Cummins is trading up about 0.7% on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Wednesday 5/22 Insider Buying Report: IMNM, CMI

Health care stocks rose late Tuesday afternoon with the NYSE Health Care Index increasing 0.8% and the Health Care Select Sector SPDR Fund (XLV) advancing 0.9%.
The iShares Biotechnology ETF (IBB) added 0.8%.
In corporate news, Tenax Therapeutics (TENX) said the US Patent and Trademark Office allowed its application for the use of levosimendan and several combinations of cardiovascular drugs with levosimendan. The stock jumped 24%.
Immunome (IMNM) shares surged 37% after it agreed to buy AL102, an investigational treatment for desmoid tumors, and related drug candidate AL101 from Ayala Pharmaceuticals.
GE HealthCare Technologies (GEHC) shares jumped 11%. The company reported better-than-expected Q4 results driven by gains across nearly all of its segments, while it anticipates earnings for 2024 to be higher than the previous year.
Eli Lilly (LLY) shares eased 0.5% even after Q4 results topped market expectations.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Health Care Sector Update for 02/06/2024: TENX, IMNM, LLY, GEHC

(RTTNews) - Immunome, Inc. (IMNM) Tuesday announced a definitive asset purchase agreement with Atreca, Inc. (BCEL) to acquire a collection of antibody-related assets and materials.
The biotechnology company targetting cancer therapies said it would pay Atreca a $5.5 million upfront payment and up to $7.0 million in clinical development milestones.
Immunome CEO Clay Siegall said, "These antibody-related assets will expand our toolbox, complementing our existing programs as we advance our mission of developing innovative treatments for cancer patients."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.