Immunome (IMNM) AI Stock Analysis

• Market Cap: $2.18B
• Dividend Yield: N/A
• Average Volume (3M): 2.34M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.78
• Revenue Growth: -4.44%
• EPS Growth: 63.58%
• Country: US
• Employees: 131
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.65
• Shares Outstanding: 110,335,270
• 10 Day Avg. Volume: 1,263,086
• 30 Day Avg. Volume: 2,340,066
• PEG Ratio: 0.30
• Price to Book (P/B): 3.44
• Price to Sales (P/S): 68.88
• P/FCF Ratio: -5.28
• Enterprise Value/Market Cap: 0.35
• Enterprise Value/Revenue: 78.66
• Enterprise Value/Gross Profit: -18.92
• Enterprise Value/Ebitda: -3.78
• 1Y Price Target: $33.20
• Price Target Upside: 66.17% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): -2.59
• Revenue Forecast (FY): $10.40M

• Rating: 63 Neutral
• Price Target: $23.00 ▲(15.12% Upside)

Immunome's overall stock score is driven by strong technical indicators and positive corporate events, including successful fundraising and promising trial results. However, financial performance remains a concern due to ongoing losses and negative profitability metrics, which weigh down the overall score.

Positive Factors

Successful Fundraising

The successful fundraising enhances Immunome's financial stability, providing capital to advance its oncology initiatives and therapy pipeline.

Positive Clinical Trial Results

The positive trial results for varegacestat could lead to FDA approval, potentially establishing a new standard of care and driving future revenue.

Cash Generation Improvement

Improving cash generation capabilities indicate better financial management and potential for sustainable operations, supporting long-term growth.

Negative Factors

Negative Profitability Metrics

Persistent losses and negative margins highlight operational inefficiencies, challenging Immunome's ability to achieve profitability in the near term.

Negative Return on Equity

A negative return on equity indicates significant losses relative to shareholder equity, undermining investor confidence and financial health.

Revenue Decline

A decline in revenue growth suggests challenges in market expansion and product adoption, potentially impacting long-term business prospects.

Immunome Business Overview & Revenue Model

Company Description

Immunome, Inc., a biopharmaceutical company, discovers and develops antibody therapeutics for oncology and infectious disease. The company's lead oncology program includes IMM-ONC-01, which targets IL-38 tumor-derived immune checkpoint capable of promoting evasion of the immune system. It also develops IMM-BCP-01, an antibody cocktail product candidate for the treatment of SARS-CoV-2 infections and COVID-19. The company was incorporated in 2006 and is headquartered in Exton, Pennsylvania.

How the Company Makes Money

Immunome generates revenue primarily through the development and commercialization of its therapeutic candidates, which are designed to address specific disease indications. The company may earn income through various streams, including milestone payments from partnerships with pharmaceutical companies, royalties from product sales once therapies are commercialized, and funding from grants or government contracts aimed at supporting research and development efforts. Significant collaborations with larger pharmaceutical companies can also provide upfront payments and additional funding tied to the achievement of development milestones, significantly contributing to the company's financial stability and growth.

Immunome Financial Statement Overview

Summary

Immunome faces significant financial challenges with negative profitability metrics, including a net profit margin of -16.87% and a negative return on equity of -87.36%. However, positive revenue growth of 15.09% and free cash flow growth of 15.20% suggest potential for improvement. The low debt-to-equity ratio indicates minimal financial risk.

Income Statement

Immunome's income statement shows a challenging financial position with a negative net profit margin of -16.87% TTM, indicating significant losses relative to revenue. However, there is a positive revenue growth rate of 15.09% TTM, suggesting potential for future improvement. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.

Balance Sheet

The balance sheet reveals a low debt-to-equity ratio of 0.015 TTM, indicating minimal leverage and financial risk. However, the return on equity is negative at -87.36% TTM, highlighting significant losses relative to shareholder equity. The equity ratio is stable, suggesting a solid capital structure despite profitability challenges.

Cash Flow

Cash flow analysis shows a negative operating cash flow, but a free cash flow to net income ratio of 1.04 TTM suggests that cash flow is slightly better than net income. The free cash flow growth rate is positive at 15.20% TTM, indicating improving cash generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.68M	9.04M	14.02M	0.00	0.00	0.00
Gross Profit	-40.23M	9.04M	14.02M	0.00	0.00	-755.00K
EBITDA	-201.54M	-151.35M	-28.00M	-36.27M	-24.45M	-17.04M
Net Income	-222.74M	-292.96M	-106.81M	-36.90M	-24.71M	-17.84M
Balance Sheet
Total Assets	299.38M	240.24M	148.54M	24.05M	57.92M	44.52M
Cash, Cash Equivalents and Short-Term Investments	272.64M	217.30M	138.14M	20.32M	49.23M	39.77M
Total Debt	4.01M	4.83M	1.65M	291.00K	317.00K	613.00K
Total Liabilities	35.46M	59.08M	28.66M	7.39M	9.74M	3.18M
Stockholders Equity	263.92M	181.16M	119.88M	16.65M	48.19M	41.34M
Cash Flow
Free Cash Flow	-192.09M	-164.30M	-8.40M	-28.94M	-18.30M	-12.72M
Operating Cash Flow	-185.03M	-110.79M	-7.57M	-28.69M	-18.23M	-12.13M
Investing Cash Flow	74.56M	-85.06M	-30.48M	-248.00K	-79.00K	-586.00K
Financing Cash Flow	227.65M	240.53M	116.41M	32.00K	27.77M	49.94M

Immunome Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 19.98
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMNM, the sentiment is Neutral. The current price of 19.98 is below the 20-day moving average (MA) of 20.90, above the 50-day MA of 18.81, and above the 200-day MA of 11.96, indicating a neutral trend. The MACD of 0.45 indicates Positive momentum. The RSI at 49.05 is Neutral, neither overbought nor oversold. The STOCH value of 18.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IMNM.

Immunome Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IMNM	63 Neutral	$2.18B	-6.76	-93.04%	―	-4.44%	63.58%
TSHA	61 Neutral	$1.44B	-14.98	-64.93%	―	-36.36%	-945.72%
IMTX	56 Neutral	$1.29B	-9.00	-29.01%	―	-27.61%	-69.49%
TNGX	53 Neutral	$1.30B	-12.86	-51.65%	―	53.28%	21.77%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
GERN	47 Neutral	$842.63M	-11.40	-29.57%	―	522.13%	62.68%
SANA	46 Neutral	$1.16B	-4.87	-96.11%	―	―	31.16%

Immunome Corporate Events

Immunome Announces Follow-On Public Offering Pricing

On December 16, 2025, Immunome announced the pricing of a follow-on public offering of 18,625,000 shares of common stock at $21.50 per share, expected to generate approximately $400 million in gross proceeds. The offering, closing on December 18, 2025, supports Immunome’s market activities and reinforces its strategic push in advancing its oncology-focused initiatives, including its innovative therapy pipeline.

The most recent analyst rating on (IMNM) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on Immunome stock, see the IMNM Stock Forecast page.

Immunome Announces Positive Phase 3 Trial Results

On December 15, 2025, Immunome announced positive topline results from its Phase 3 RINGSIDE trial of varegacestat in patients with progressing desmoid tumors. The trial demonstrated significant improvements in progression-free survival and objective response rate compared to placebo, with varegacestat showing an 84% reduction in the risk of disease progression or death. The company plans to submit a New Drug Application to the FDA in Q2 2026, positioning varegacestat as a potential new standard of care for desmoid tumors.

The most recent analyst rating on (IMNM) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Immunome stock, see the IMNM Stock Forecast page.