Prosight Management LP Boosts Stake in Immunome, Inc. (NASDAQ:IMNM)

Prosight Management LP increased its stake in shares of Immunome, Inc. (NASDAQ:IMNM) by 38.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,342 shares of the company’s stock after buying an additional 15,207 shares during the period. Prosight Management LP’s holdings in Immunome were worth $577,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in IMNM. JPMorgan Chase & Co. raised its holdings in shares of Immunome by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company’s stock valued at $359,000 after purchasing an additional 1,520 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Immunome by 11.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 19,065 shares of the company’s stock valued at $202,000 after purchasing an additional 2,000 shares during the period. Intech Investment Management LLC increased its stake in Immunome by 26.5% in the fourth quarter. Intech Investment Management LLC now owns 18,961 shares of the company’s stock valued at $201,000 after purchasing an additional 3,974 shares during the period. Wellington Management Group LLP increased its stake in Immunome by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 145,564 shares of the company’s stock valued at $1,546,000 after purchasing an additional 4,874 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Immunome by 17.7% in the fourth quarter. MetLife Investment Management LLC now owns 35,619 shares of the company’s stock valued at $378,000 after purchasing an additional 5,354 shares during the period. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Immunome news, CTO Philip Tsai purchased 12,300 shares of the stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the completion of the transaction, the chief technology officer now directly owns 33,300 shares of the company’s stock, valued at $280,386. This trade represents a 58.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the stock in a transaction dated Monday, March 24th. The stock was acquired at an average price of $8.21 per share, for a total transaction of $57,470.00. Following the completion of the transaction, the director now directly owns 23,615 shares of the company’s stock, valued at approximately $193,879.15. The trade was a 42.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 156,400 shares of company stock worth $1,160,495 over the last ninety days. 8.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IMNM. Guggenheim cut their price target on shares of Immunome from $35.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 20th. Lake Street Capital began coverage on shares of Immunome in a report on Wednesday, April 2nd. They set a “buy” rating and a $23.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $21.00 target price (down from $33.00) on shares of Immunome in a report on Tuesday. Lifesci Capital began coverage on shares of Immunome in a report on Tuesday, March 11th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Stephens reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Immunome in a report on Thursday, March 20th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $23.33.

Immunome Trading Up 0.8%

Shares of Immunome stock opened at $7.97 on Thursday. Immunome, Inc. has a 12-month low of $5.15 and a 12-month high of $16.81. The stock has a market cap of $693.49 million, a PE ratio of -0.98 and a beta of 2.00. The company has a 50-day moving average of $7.68 and a two-hundred day moving average of $9.88.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. The business had revenue of $2.93 million for the quarter, compared to analyst estimates of $0.46 million. Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. On average, sell-side analysts forecast that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Immunome Profile

Immunome, Inc, a biotechnology company, develops targeted cancer therapies. The company's clinical asset comprises AL102, an investigational gamma secretase inhibitor currently in evaluation in a Phase 3 trial for the treatment of desmoid tumors; and preclinical assets consist of IM-1021, a receptor tyrosine kinase-like orphan receptor 1 and antibody-drug conjugates, as well as IM-3050, a fibroblast activation protein targeted radioligand therapy; and IM-4320, an anti-IL-38 immunotherapy candidate.