AQR Capital Management LLC Boosts Stock Position in Immunome, Inc. (NASDAQ:IMNM)

AQR Capital Management LLC raised its stake in shares of Immunome, Inc. (NASDAQ:IMNM) by 34.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,064 shares of the company’s stock after acquiring an additional 4,129 shares during the period. AQR Capital Management LLC’s holdings in Immunome were worth $194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IMNM. Price T Rowe Associates Inc. MD raised its stake in Immunome by 113.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock valued at $55,425,000 after acquiring an additional 1,194,451 shares during the last quarter. Marshall Wace LLP increased its position in Immunome by 228.5% during the 2nd quarter. Marshall Wace LLP now owns 1,713,325 shares of the company’s stock worth $20,731,000 after purchasing an additional 1,191,774 shares during the period. Redmile Group LLC increased its position in Immunome by 26.0% during the 1st quarter. Redmile Group LLC now owns 4,889,554 shares of the company’s stock worth $120,674,000 after purchasing an additional 1,010,139 shares during the period. Farallon Capital Management LLC acquired a new position in Immunome during the 1st quarter worth approximately $14,660,000. Finally, Lord Abbett & CO. LLC acquired a new position in Immunome during the 1st quarter worth approximately $10,994,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on IMNM shares. Piper Sandler dropped their target price on Immunome from $27.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $33.00 target price on shares of Immunome in a research report on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Immunome currently has an average rating of “Buy” and an average price target of $29.00.

Immunome Price Performance

IMNM opened at $12.28 on Friday. The stock has a market cap of $736.42 million, a P/E ratio of -1.63 and a beta of 1.76. The stock’s 50 day simple moving average is $14.08 and its 200 day simple moving average is $14.61. Immunome, Inc. has a 1-year low of $6.93 and a 1-year high of $30.96.

Immunome (NASDAQ:IMNM) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.11). The firm had revenue of $2.36 million during the quarter, compared to analyst estimates of $2.62 million. Immunome had a negative return on equity of 38.19% and a negative net margin of 2,435.02%. Research analysts expect that Immunome, Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Max Rosett sold 14,380 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total value of $230,223.80. Following the sale, the chief financial officer now owns 47,476 shares in the company, valued at $760,090.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Jean Jacques Bienaime bought 7,000 shares of the stock in a transaction on Friday, August 16th. The shares were purchased at an average price of $13.94 per share, for a total transaction of $97,580.00. Following the acquisition, the director now owns 16,615 shares in the company, valued at $231,613.10. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Max Rosett sold 14,380 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.01, for a total value of $230,223.80. Following the sale, the chief financial officer now owns 47,476 shares in the company, valued at approximately $760,090.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

About Immunome

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.