Immunome initiated with an Overweight at Stephens on ‘seasoned leadership’

Stephens analyst Sudan Loganathan initiated coverage of Immunome (IMNM) with an Overweight rating and $30 price target as the firm is adding to its biotechnology research coverage with a focus on antibody-drug delivery technologies for the treatment of cancers. Immunome has a late stage asset in AL102 for desmoid tumors, as well as a “strong cash position and seasoned leadership in ADC technology,” the analyst tells investors.