Primecap Management Co. CA Purchases 55,800 Shares of Immunome, Inc. (NASDAQ:IMNM)

Primecap Management Co. CA increased its position in Immunome, Inc. (NASDAQ:IMNM) by 26.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 268,800 shares of the company’s stock after acquiring an additional 55,800 shares during the period. Primecap Management Co. CA owned about 0.45% of Immunome worth $3,252,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Redmile Group LLC grew its stake in shares of Immunome by 26.0% during the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock valued at $120,674,000 after purchasing an additional 1,010,139 shares during the period. Price T Rowe Associates Inc. MD grew its position in Immunome by 113.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after buying an additional 1,194,451 shares during the period. Vanguard Group Inc. increased its holdings in Immunome by 16.1% during the first quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock valued at $49,847,000 after buying an additional 279,712 shares during the last quarter. Janus Henderson Group PLC raised its position in Immunome by 10.6% in the first quarter. Janus Henderson Group PLC now owns 1,538,414 shares of the company’s stock worth $37,957,000 after acquiring an additional 146,943 shares during the period. Finally, Avidity Partners Management LP purchased a new position in shares of Immunome during the 4th quarter worth $14,268,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Immunome Stock Performance

IMNM opened at $15.50 on Thursday. The stock has a market cap of $929.52 million, a price-to-earnings ratio of -2.05 and a beta of 1.77. The firm’s fifty day moving average is $14.40 and its 200 day moving average is $16.25. Immunome, Inc. has a fifty-two week low of $6.65 and a fifty-two week high of $30.96.

Immunome (NASDAQ:IMNM) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.11). The business had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $2.62 million. Immunome had a negative net margin of 2,435.02% and a negative return on equity of 38.19%. On average, equities research analysts predict that Immunome, Inc. will post -1.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jean Jacques Bienaime acquired 7,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $13.94 per share, with a total value of $97,580.00. Following the acquisition, the director now directly owns 16,615 shares in the company, valued at approximately $231,613.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Jack Higgins sold 3,524 shares of Immunome stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.93, for a total value of $49,089.32. Following the sale, the insider now directly owns 16,000 shares of the company’s stock, valued at $222,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jean Jacques Bienaime purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $13.94 per share, with a total value of $97,580.00. Following the completion of the purchase, the director now owns 16,615 shares of the company’s stock, valued at approximately $231,613.10. The disclosure for this purchase can be found here. 8.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IMNM shares. Piper Sandler decreased their target price on Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Immunome in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $29.00.

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.