Immunome Inc. (IMNM) stock continued its upward trajectory, soaring 6.19% in pre-market trading on Wednesday. This surge follows an already impressive 6.33% gain observed in the previous trading session, as investors react positively to a significant insider purchase by the company's Chief Technology Officer (CTO).

According to a recent regulatory filing, Immunome's CTO Philip Tsai acquired 12,300 shares of common stock on March 24th, with the transaction totaling approximately $103,600. This substantial investment by a key executive has been interpreted by market participants as a strong vote of confidence in the biotechnology company's future prospects, driving the stock's price upward.

Insider buying, particularly when executed by high-ranking officers such as the CTO, often signals to investors that those with intimate knowledge of the company's operations believe the stock may be undervalued or poised for significant growth. The market's continued positive reaction to Tsai's purchase underscores the impact that insider transactions can have on investor sentiment and stock performance, especially for smaller, specialized firms in the biotechnology sector. As trading opens on Wednesday, all eyes will be on Immunome to see if this pre-market momentum translates into sustained gains throughout the regular session.