Redmile Group LLC Has $121.57 Million Stake in Immunome, Inc. $IMNM

Redmile Group LLC lessened its stake in shares of Immunome, Inc. (NASDAQ:IMNM) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,558,885 shares of the company’s stock after selling 159,500 shares during the period. Immunome accounts for 8.1% of Redmile Group LLC’s portfolio, making the stock its 4th largest holding. Redmile Group LLC owned 4.91% of Immunome worth $121,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IMNM. Quantinno Capital Management LP acquired a new stake in shares of Immunome in the first quarter worth $222,000. Aristotle Atlantic Partners LLC acquired a new position in Immunome in the 1st quarter valued at $2,734,000. Renaissance Technologies LLC bought a new position in Immunome in the 1st quarter worth $1,507,000. Sei Investments Co. raised its holdings in Immunome by 90.4% in the 1st quarter. Sei Investments Co. now owns 52,770 shares of the company’s stock worth $1,154,000 after acquiring an additional 25,051 shares during the period. Finally, Walleye Capital LLC acquired a new position in Immunome during the 1st quarter worth $2,432,000. Institutional investors own 44.58% of the company’s stock.

Wall Street Analysts Forecast Growth

IMNM has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Leerink Partners lowered their target price on Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Barclays assumed coverage on Immunome in a report on Thursday, May 28th. They set an “overweight” rating and a $36.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research note on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.17.

Insiders Place Their Bets

In related news, insider Robert Lechleider sold 55,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $19.85, for a total value of $1,091,750.00. Following the completion of the transaction, the insider directly owned 15,805 shares of the company’s stock, valued at $313,729.25. This trade represents a 77.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Max Rosett sold 60,000 shares of Immunome stock in a transaction on Monday, June 15th. The stock was sold at an average price of $18.23, for a total transaction of $1,093,800.00. Following the sale, the chief financial officer owned 54,037 shares in the company, valued at $985,094.51. This represents a 52.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 472,142 shares of company stock valued at $10,262,648 in the last ninety days. 7.21% of the stock is currently owned by insiders.

Immunome Stock Up 2.8%

Immunome stock opened at $23.22 on Wednesday. The business has a 50 day moving average price of $21.15 and a two-hundred day moving average price of $22.00. Immunome, Inc. has a 12 month low of $8.66 and a 12 month high of $27.65. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -9.76 and a beta of 2.07.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.12. On average, analysts expect that Immunome, Inc. will post -2.06 earnings per share for the current fiscal year.

About Immunome

Immunome, Inc is a clinical-stage biotechnology company focused on discovering and developing novel antibody-based therapeutics for oncology and infectious diseases. The company leverages a proprietary platform that mines the natural B-cell repertoire of patients with active disease to identify fully human monoclonal antibodies with unique mechanisms of action. Immunome’s approach is designed to uncover antibodies that engage the immune system in ways that traditional discovery methods may miss, enabling the development of therapies with potential for improved efficacy and safety profiles.

The company’s lead oncology program, IMM-BCP-01, is a multi-antibody cocktail currently in early-stage clinical trials targeting breast cancer antigens.