Redmile Group LLC Lowers Stock Holdings in Immunome, Inc. $IMNM

Redmile Group LLC trimmed its stake in Immunome, Inc. (NASDAQ:IMNM) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,558,885 shares of the company’s stock after selling 159,500 shares during the period. Immunome comprises about 8.1% of Redmile Group LLC’s investment portfolio, making the stock its 4th largest position. Redmile Group LLC’s holdings in Immunome were worth $121,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. KBC Group NV acquired a new stake in shares of Immunome in the 1st quarter valued at $60,000. BNP Paribas Financial Markets grew its holdings in shares of Immunome by 81.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after purchasing an additional 2,909 shares during the last quarter. Strs Ohio acquired a new stake in shares of Immunome during the 4th quarter worth about $64,000. Tower Research Capital LLC TRC increased its position in shares of Immunome by 121.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock worth $65,000 after purchasing an additional 3,802 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Immunome during the 3rd quarter valued at about $76,000. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Isaac Barchas sold 101,050 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 308,504 shares of the company’s stock, valued at $6,515,604.48. This represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kinney Horn sold 1,092 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $25.00, for a total transaction of $27,300.00. Following the sale, the insider directly owned 1,092 shares in the company, valued at $27,300. This trade represents a 50.00% 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 sold 472,142 shares of company stock valued at $10,262,648. Insiders own 7.21% of the company’s stock.

Immunome Stock Up 2.8%

Immunome stock opened at $23.22 on Wednesday. The stock has a 50-day simple moving average of $21.15 and a 200 day simple moving average of $22.00. Immunome, Inc. has a 12-month low of $8.66 and a 12-month high of $27.65. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -9.76 and a beta of 2.07.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.12. As a group, sell-side analysts anticipate that Immunome, Inc. will post -2.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Leerink Partners reduced their price target on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immunome in a report on Friday, July 17th. Citigroup reiterated a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Barclays began coverage on Immunome in a report on Thursday, May 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $31.00 price target on shares of Immunome in a research report on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Immunome presently has a consensus rating of “Moderate Buy” and an average target price of $33.17.

Immunome Company Profile

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.