Immunome, Inc. (IMNM) shares soared 6.1% in the last trading session to close at $11.2. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 3.9% gain over the past four weeks.The sudden price rise can be attributed to growing investor optimism regarding the company’s efforts to develop its lead pipeline candidate, varegacestat, which is currently being evaluated in a late-stage study for the treatment of desmoid tumors. Immunome is a ...

Core Insights - Immunome, Inc. (IMNM) shares increased by 6% to close at $9.3, driven by higher trading volume compared to typical sessions, contrasting with a 0.1% gain over the past four weeks [1][2] Company Performance - The rise in stock price is linked to growing investor optimism regarding the development of varegacestat, which is in late-stage clinical studies for treating desmoid tumors, alongside other early-stage cancer therapies [2] - The company is projected to report a quarterly loss of $0.52 per share, reflecting a year-over-year decline of 6.1%, with expected revenues of $2.47 million, an increase of 4.5% from the previous year [3] - The consensus EPS estimate for the upcoming quarter has been revised 1.9% higher in the last 30 days, indicating a positive trend that may lead to price appreciation [4] Industry Context - Immunome is categorized under the Zacks Medical - Biomedical and Genetics industry, where Nurix Therapeutics, Inc. (NRIX) also operates, closing 2.2% lower at $11.39, with a 9.5% return over the past month [5] - Nurix Therapeutics has an unchanged consensus EPS estimate of -$0.72 for the upcoming report, representing a year-over-year change of -1.4% [6]