Primecap Management Co. CA Acquires 12,000 Shares of Immunome, Inc. (NASDAQ:IMNM)

Primecap Management Co. CA lifted its stake in Immunome, Inc. (NASDAQ:IMNM) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 280,800 shares of the company’s stock after purchasing an additional 12,000 shares during the period. Primecap Management Co. CA’s holdings in Immunome were worth $4,105,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IMNM. Arizona State Retirement System lifted its stake in Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company’s stock valued at $131,000 after buying an additional 918 shares during the period. Clear Creek Financial Management LLC boosted its stake in Immunome by 18.2% during the 2nd quarter. Clear Creek Financial Management LLC now owns 26,188 shares of the company’s stock worth $317,000 after acquiring an additional 4,035 shares during the last quarter. AQR Capital Management LLC boosted its stake in Immunome by 34.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,064 shares of the company’s stock worth $194,000 after acquiring an additional 4,129 shares during the last quarter. Quest Partners LLC acquired a new position in Immunome during the second quarter valued at approximately $81,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Immunome in the second quarter valued at approximately $97,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IMNM shares. Piper Sandler reduced their price target on shares of Immunome from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Stephens began coverage on Immunome in a research note on Friday, November 8th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $33.00 price target on shares of Immunome in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome currently has a consensus rating of “Buy” and an average price target of $28.83.

Insider Activity

In related news, CFO Max Rosett sold 14,380 shares of Immunome 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 of the company’s stock, valued at approximately $760,090.76. This trade represents a 23.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Immunome Trading Up 4.2 %

Shares of NASDAQ IMNM opened at $9.82 on Friday. The company has a fifty day moving average price of $12.58 and a 200 day moving average price of $13.61. The firm has a market cap of $612.96 million, a PE ratio of -1.21 and a beta of 1.82. Immunome, Inc. has a 1-year low of $6.93 and a 1-year high of $30.96.

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.