647,888 Shares in Immunome, Inc. $IMNM Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 647,888 Immunome shares worth approximately $13.7 million, representing about 0.57% of the company. Institutional investors and hedge funds collectively owned 44.58% of Immunome.
• Analyst sentiment remains broadly positive, with 12 Buy ratings and one Sell rating. The consensus price target is $35.18, with recent targets ranging from $35 to $40.
• Immunome reported a quarterly loss of $0.65 per share, missing estimates by $0.14. Meanwhile, insiders sold approximately $13.8 million worth of stock during the last quarter.

Bank of America Corp DE acquired a new position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 647,888 shares of the company's stock, valued at approximately $13,729,000. Bank of America Corp DE owned about 0.57% of Immunome at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Immunome during the second quarter worth approximately $186,588,000. Primecap Management Co. CA purchased a new position in Immunome during the 2nd quarter worth approximately $97,081,000. Sofinnova Investments Inc. increased its position in Immunome by 271.2% during the fourth quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company's stock worth $34,765,000 after buying an additional 1,182,426 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Immunome in the fourth quarter valued at approximately $16,745,000. Finally, TD Asset Management Inc lifted its stake in Immunome by 8.3% in the fourth quarter. TD Asset Management Inc now owns 759,192 shares of the company's stock valued at $16,307,000 after buying an additional 57,912 shares during the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Insider Activity at Immunome

In related news, insider Jack Higgins sold 13,200 shares of the business's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $25.32, for a total transaction of $334,224.00. Following the completion of the transaction, the insider owned 65,050 shares in the company, valued at $1,647,066. The trade was a 16.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 11,048 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $27.25, for a total transaction of $301,058.00. Following the completion of the sale, the director directly owned 92,211 shares in the company, valued at approximately $2,512,749.75. This trade represents a 10.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 580,510 shares of company stock valued at $13,824,240 in the last quarter. Insiders own 7.21% of the company's stock.

Analysts Set New Price Targets

IMNM has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunome in a research note on Friday, July 17th. Wedbush upped their target price on shares of Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Citigroup reissued a "buy" rating on shares of Immunome in a report on Thursday, July 9th. HC Wainwright restated a "buy" rating and issued a $40.00 price target on shares of Immunome in a research report on Thursday, September 10th. Finally, Truist Financial lifted their target price on Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.18.

Immunome Price Performance

Shares of NASDAQ IMNM opened at $21.41 on Friday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -8.46 and a beta of 2.13. Immunome, Inc. has a 1-year low of $10.06 and a 1-year high of $30.06. The business has a 50-day moving average of $25.45 and a 200-day moving average of $22.85.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). Research analysts expect that Immunome, Inc. will post -2.38 EPS for the current fiscal year.

Immunome Profile

Immunome, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing antibody-based therapies for cancer and other serious diseases. The company uses proprietary antibody discovery and engineering technologies designed to identify therapeutic candidates from human immune responses and advance them into clinical development.

Immunome's activities include the development of novel immunotherapies and targeted biologic medicines, with research programs aimed at addressing significant unmet needs in oncology and inflammatory or immune-mediated diseases.

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