Immunome, Inc. (IMNM) Reports Q1 Loss, Misses Revenue Estimates

Core Insights - Immunome, Inc. reported a quarterly loss of $0.34 per share, significantly better than the Zacks Consensus Estimate of a loss of $0.80, marking an earnings surprise of 57.50% [1] - The company generated revenues of $1.03 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 74.28% and down from $2.36 million year-over-year [2] - Immunome shares have increased approximately 45.9% year-to-date, outperforming the S&P 500's gain of 9.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.36 on revenues of $4 million, while for the current fiscal year, it is -$1.91 on revenues of $16 million [7] - The estimate revisions trend for Immunome is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Immunome belongs, is currently ranked in the top 37% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]