Pre-earnings brief
Reports
Fri, Nov 4, 2022
Est. EPS
—
Est. revenue
—
Implied move
±35.5%
EPS beat rate
38%
Immunome, Inc. is a biotechnology company focused on developing therapies for cancer and other diseases using its proprietary antibody discovery platform. As part of the health care sector, it plays a crucial role in advancing innovative treatments that could significantly impact patient outcomes.
Last quarter
In Q2 2026, Immunome reported an EPS of -$0.65, which was worse than the expected -$0.51, leading to a stock increase of 2.18% the following day. The company did not provide revenue figures or guidance.
EPS beat streak
0Q
EPS beat rate
38%
Avg EPS surprise
-44.87%
Avg 1-day reaction
-0.97%
Investors are anticipating a volatile reaction to the upcoming earnings report, especially given the company's recent performance and lack of analyst estimates. The stock's implied move suggests significant uncertainty.
Bull case
If Immunome can surprise positively with better-than-expected EPS or show progress in its drug development pipeline, it could lead to a strong rally in the stock.
Bear case
Conversely, if the company reports a larger loss than expected or fails to provide any encouraging updates on its therapies, the stock could face significant downward pressure.
The print will turn on these.
Q1
What will the EPS be this quarter, and how does it compare to previous quarters?
Given the company's history of EPS surprises, this figure will be critical in shaping investor sentiment and stock movement.
Q2
Will there be any updates on the progress of Immunome's drug candidates?
Investors are keen to know about advancements in the pipeline, as this could significantly influence future revenue potential.
Why consensus could be wrong
The Street may be underestimating the potential for Immunome's drug pipeline to deliver unexpected results, which could lead to a positive surprise this quarter.
Supporting evidence
The options market is pricing a 35.5% move, suggesting that traders expect significant volatility, which could indicate a larger-than-expected surprise.
Immunome's recent history shows that even small positive surprises have led to stock increases, indicating potential for upside.
Key risk
If the EPS comes in better than the expected loss, it could shift the narrative significantly.
Pre-commit to what would confirm each case.
The market is currently weighing the potential for recovery against the backdrop of recent disappointing earnings.
Bull confirmed if
A smaller-than-expected EPS loss or positive updates on drug development could signal a turnaround, leading to a stock rally.
Bear confirmed if
A larger loss than anticipated or no updates on the drug pipeline could confirm bearish sentiment, pushing the stock lower.
What the market is pricing for the move.
Implied Move
±35.5%
Historical Avg
±3.4%
The options market is pricing in a substantial move, indicating that traders expect significant volatility around the earnings report.
Options are pricing ±35.5% while IMNM has averaged ±3.4% over the last 8 prints — setup is pricing rich.
30d HV
47.8%
Cross-company pattern from 30 similar setups.
Prior-quarter miss + options pricing rich in Health Care
Fade rate: 13 of 30 (43%)
This setup has occurred 30 times across Health Care in the last 2 years. 13 of 30 faded and 17 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.6%, with a raw directional average of +2.0% (modestly positive historical bias).
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Immunome beats expectations, history suggests a potential stock increase of around 0.5%, confirming a positive outlook.
In line / cautious
If results are in line with expectations, the stock may see muted movement as investors await further clarity from management.
Miss
Should the company miss expectations, the stock could drop by an average of 1.85%, reflecting continued investor caution.
The lines on the call that would change the story.
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Est. EPS
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Est. Rev
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Impl. Move
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