Immunome Inc. (IMNM) shares soared 6.04% in after-hours trading on Tuesday, following news of a significant insider purchase by the company's Chief Technology Officer (CTO).
According to a regulatory filing, Immunome's CTO Philip Tsai acquired 12,300 shares of common stock on March 24th. The total transaction amounted to approximately $103,600, signaling a strong vote of confidence in the company's future prospects from a key executive.
Insider buying, particularly by high-ranking officers such as the CTO, is often viewed positively by investors. It suggests that those with intimate knowledge of the company's operations and potential believe the stock is undervalued or has significant growth potential. This purchase by Tsai may have triggered increased investor interest, leading to the after-hours stock price surge.
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