Immunome, Inc. (IMNM) shares rallied 13.3% in the last trading session to close at $21.87. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 13.1% loss over the past four weeks.
Immunome’s stock price rally is largely tied to the renewed investor optimism around its advancing oncology pipeline, particularly continued momentum from its lead asset varegacestat and broader clinical progress. The company has reported strong phase III data for varegacestat in desmoid tumors, with plans for a potential FDA filing in 2026. Investors are also encouraged by Immunome’s expanding pipeline, including IM-1021 and several ADC programs, which offer promising long-term growth potential.
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 -15.4%. Revenues are expected to be $2 million, down 31.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Immunome, the consensus EPS estimate for the quarter has been revised 7.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on IMNM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Immunome is part of the Zacks Medical - Biomedical and Genetics industry. CytomX Therapeutics (CTMX), another stock in the same industry, closed the last trading session 6.6% higher at $4.7. CTMX has returned -17.4% in the past month.
CytomX Therapeutics' consensus EPS estimate for the upcoming report has changed -44.9% over the past month to -$0.14. Compared to the company's year-ago EPS, this represents a change of -151.9%. CytomX Therapeutics currently boasts a Zacks Rank of #3 (Hold).
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Immunome, Inc. (IMNM): Free Stock Analysis Report
CytomX Therapeutics, Inc. (CTMX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).