Cubist Systematic Strategies LLC Invests $902,000 in Immunome, Inc. (NASDAQ:IMNM)

Cubist Systematic Strategies LLC purchased a new position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 84,930 shares of the company's stock, valued at approximately $902,000. Cubist Systematic Strategies LLC owned 0.11% of Immunome at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Immunome during the 4th quarter worth approximately $70,000. Northern Trust Corp raised its position in shares of Immunome by 9.1% during the 4th quarter. Northern Trust Corp now owns 516,491 shares of the company's stock worth $5,485,000 after purchasing an additional 43,146 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Immunome by 14.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 189,060 shares of the company's stock worth $2,008,000 after buying an additional 23,569 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Immunome in the 4th quarter worth approximately $95,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Immunome by 127.3% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company's stock worth $5,310,000 after buying an additional 280,000 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IMNM. Guggenheim decreased their price objective on Immunome from $35.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Stephens reissued an "overweight" rating and issued a $30.00 price objective on shares of Immunome in a report on Thursday, March 20th. Wedbush reissued an "outperform" rating and issued a $21.00 price objective (down from $33.00) on shares of Immunome in a report on Tuesday. Lake Street Capital began coverage on Immunome in a report on Wednesday, April 2nd. They issued a "buy" rating and a $23.00 price objective for the company. Finally, Lifesci Capital began coverage on Immunome in a report on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $23.33.

Immunome Stock Performance

Shares of NASDAQ IMNM opened at $7.97 on Thursday. The stock has a fifty day moving average price of $7.68 and a two-hundred day moving average price of $9.88. The firm has a market cap of $693.49 million, a P/E ratio of -0.98 and a beta of 2.00. Immunome, Inc. has a 1 year low of $5.15 and a 1 year high of $16.81.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.66) by $0.14. The firm had revenue of $2.93 million during the quarter, compared to analyst estimates of $0.46 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. On average, research analysts predict that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunome

In related news, CEO Clay B. Siegall acquired 137,100 shares of Immunome stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average cost of $7.29 per share, with a total value of $999,459.00. Following the purchase, the chief executive officer now directly owns 806,736 shares in the company, valued at $5,881,105.44. The trade was a 20.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Philip Tsai acquired 12,300 shares of Immunome stock in a transaction dated Monday, March 24th. The shares were bought at an average cost of $8.42 per share, with a total value of $103,566.00. Following the completion of the purchase, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. This represents a 58.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 156,400 shares of company stock valued at $1,160,495. 8.60% of the stock is owned by corporate insiders.

Immunome Profile

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.

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