Sei Investments Co. Boosts Holdings in Immunome, Inc. $IMNM

Sei Investments Co. boosted its holdings in shares of Immunome, Inc. (NASDAQ:IMNM) by 90.4% in the first quarter, HoldingsChannel.com reports. The fund owned 52,770 shares of the company’s stock after buying an additional 25,051 shares during the quarter. Sei Investments Co.’s holdings in Immunome were worth $1,154,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of IMNM. T. Rowe Price Investment Management Inc. grew its position in shares of Immunome by 59.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock valued at $288,305,000 after purchasing an additional 5,003,824 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Immunome by 8,659.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock worth $61,341,000 after purchasing an additional 2,823,144 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Immunome by 55.2% during the 4th quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock worth $100,643,000 after purchasing an additional 1,667,432 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Immunome in the 4th quarter valued at approximately $30,710,000. Finally, Sofinnova Investments Inc. lifted its stake in Immunome by 271.2% in the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company’s stock valued at $34,765,000 after buying an additional 1,182,426 shares in the last quarter. Hedge funds and other institutional investors own 44.58% of the company’s stock.

Insider Activity at Immunome

In other news, Director Isaac Barchas sold 101,050 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the transaction, the director directly owned 308,504 shares in the company, valued at $6,515,604.48. This represents a 24.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 90,616 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the completion of the sale, the insider directly owned 50,366 shares in the company, valued at $1,263,682.94. This represents a 64.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 598,846 shares of company stock valued at $13,476,656. Insiders own 7.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Immunome in a research report on Friday, July 17th. Truist Financial upped their price objective on Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Citigroup reaffirmed a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.18.

Immunome Trading Up 2.2%

Immunome stock opened at $26.25 on Wednesday. The stock has a fifty day moving average price of $21.73 and a 200 day moving average price of $22.18. Immunome, Inc. has a 52 week low of $8.66 and a 52 week high of $27.65. The firm has a market capitalization of $2.97 billion, a P/E ratio of -11.03 and a beta of 2.08.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.14). As a group, equities analysts predict that Immunome, Inc. will post -2.06 EPS for the current 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.