Redmile Group LLC Boosts Stock Position in Immunome, Inc. (NASDAQ:IMNM)

Redmile Group LLC boosted its position in shares of Immunome, Inc. (NASDAQ:IMNM) by 26.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,889,554 shares of the company’s stock after buying an additional 1,010,139 shares during the quarter. Immunome accounts for approximately 4.4% of Redmile Group LLC’s investment portfolio, making the stock its 3rd largest position. Redmile Group LLC owned approximately 8.16% of Immunome worth $120,674,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Immunome by 113.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,245,673 shares of the company’s stock worth $55,425,000 after buying an additional 1,194,451 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Immunome by 16.1% during the first quarter. Vanguard Group Inc. now owns 2,019,738 shares of the company’s stock worth $49,847,000 after purchasing an additional 279,712 shares during the period. Avidity Partners Management LP acquired a new stake in shares of Immunome during the fourth quarter worth $14,268,000. Lord Abbett & CO. LLC purchased a new stake in shares of Immunome during the first quarter valued at $10,994,000. Finally, Altitude Crest Partners Inc. acquired a new position in shares of Immunome in the 1st quarter valued at $6,473,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Stock Performance

Shares of IMNM stock traded down $0.75 during trading on Monday, hitting $15.76. 837,756 shares of the company were exchanged, compared to its average volume of 827,826. The business’s 50-day simple moving average is $13.85 and its 200 day simple moving average is $17.65. Immunome, Inc. has a twelve month low of $6.13 and a twelve month high of $30.96. The firm has a market capitalization of $945.13 million, a price-to-earnings ratio of -2.09 and a beta of 1.79.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, May 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.46. Immunome had a negative net margin of 1,829.44% and a negative return on equity of 37.33%. The company had revenue of $1.03 million during the quarter, compared to analyst estimates of $4.00 million. On average, equities analysts forecast that Immunome, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IMNM shares. Wedbush restated an “outperform” rating and set a $33.00 price objective on shares of Immunome in a report on Thursday. Piper Sandler assumed coverage on shares of Immunome in a research report on Friday, May 31st. They issued an “overweight” rating and a $27.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Immunome in a research note on Tuesday, April 30th. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Guggenheim initiated coverage on shares of Immunome in a research note on Monday, April 15th. They set a “buy” rating and a $35.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $29.80.

Insiders Place Their Bets

In other Immunome news, Director Jean Jacques Bienaime purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $13.57 per share, for a total transaction of $27,140.00. Following the completion of the purchase, the director now directly owns 9,615 shares of the company’s stock, valued at $130,475.55. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate 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.