Primecap Management Co. CA Makes New Investment in Immunome, Inc. $IMNM

Primecap Management Co. CA purchased a new stake in shares of Immunome, Inc. (NASDAQ:IMNM) during the second quarter, HoldingsChannel.com reports. The fund purchased 4,581,431 shares of the company’s stock, valued at approximately $97,081,000.

A number of other large investors have also recently made changes to their positions in the stock. Allworth Financial LP purchased a new stake in Immunome during the 2nd quarter valued at $25,000. KBC Group NV purchased a new position in shares of Immunome in the 1st quarter worth $60,000. Strs Ohio bought a new stake in shares of Immunome in the fourth quarter worth $64,000. Assetmark Inc. grew its holdings in shares of Immunome by 46.6% in the first quarter. Assetmark Inc. now owns 4,535 shares of the company’s stock worth $99,000 after acquiring an additional 1,442 shares during the period. Finally, State of Wyoming purchased a new stake in Immunome during the second quarter valued at $109,000. 44.58% of the stock is currently owned by institutional investors.

Immunome Price Performance

IMNM opened at $29.39 on Wednesday. The company has a 50 day simple moving average of $23.62 and a two-hundred day simple moving average of $22.35. The firm has a market cap of $3.34 billion, a P/E ratio of -11.62 and a beta of 2.08. Immunome, Inc. has a 1-year low of $8.66 and a 1-year high of $30.06.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.14). Equities analysts anticipate that Immunome, Inc. will post -2.38 earnings per share for the current year.

Insider Buying and Selling at Immunome

In other news, insider Kinney Horn sold 90,616 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total value of $2,273,555.44. Following the transaction, the insider directly owned 50,366 shares in the company, valued at $1,263,682.94. The trade was a 64.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total value of $1,244,100.00. Following the completion of the transaction, the insider directly owned 15,805 shares of the company’s stock, valued at approximately $357,509.10. This trade represents a 77.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 682,310 shares of company stock valued at $15,675,566 over the last ninety days. 7.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IMNM has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a report on Friday, July 17th. Truist Financial boosted their target price on shares of Immunome from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. HC Wainwright reiterated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Citigroup restated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Finally, Barclays started coverage on Immunome in a report on Thursday, May 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Immunome has an average rating of “Moderate Buy” and a consensus price target of $34.64.

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.