Bank of America Corp DE Boosts Stake in Immunome, Inc. $IMNM

Key Points

• Bank of America increased its Immunome stake by 285.6% in the first quarter, holding 781,607 shares worth approximately $17.1 million, or 0.69% of the company. Institutional investors collectively own 44.58% of Immunome.
• Analyst sentiment remains largely positive, with 12 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $34.64. Truist and Wedbush recently raised their price targets to $38 and $35, respectively.
• Immunome shares opened at $28.08, near their 52-week high of $30.06, but the company reported a quarterly loss of $0.65 per share, missing estimates by $0.14. Insiders sold 682,310 shares worth about $15.7 million over the past three months.

Bank of America Corp DE increased its stake in Immunome, Inc. (NASDAQ:IMNM - Free Report) by 285.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 781,607 shares of the company's stock after purchasing an additional 578,890 shares during the period. Bank of America Corp DE owned approximately 0.69% of Immunome worth $17,094,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV purchased a new stake in shares of Immunome in the 1st quarter valued at $60,000. BNP Paribas Financial Markets boosted its stake in shares of Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company's stock valued at $60,000 after purchasing an additional 2,909 shares in the last quarter. Strs Ohio purchased a new position in shares of Immunome during the 4th quarter worth approximately $64,000. Tower Research Capital LLC TRC grew its stake in Immunome by 121.2% in the second 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 during the period. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Immunome in the 3rd quarter worth about $76,000. Institutional investors own 44.58% of the company's stock.

Analyst Ratings Changes

IMNM has been the topic of several recent research reports. Truist Financial upped their price target on Immunome from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Wedbush lifted their price target on shares of Immunome from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. HC Wainwright reissued a "buy" rating on shares of Immunome in a report on Thursday, July 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Immunome in a research report on Friday, July 17th. Finally, Barclays initiated coverage on Immunome in a research report on Thursday, May 28th. They set an "overweight" rating and a $36.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $34.64.

Insider Buying and Selling at Immunome

In other Immunome news, insider Kinney Horn sold 90,616 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total value of $2,273,555.44. Following the transaction, the insider directly owned 50,366 shares in the company, valued at $1,263,682.94. This represents a 64.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 company's 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 transaction, the director owned 92,211 shares in the company, valued at $2,512,749.75. This represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 682,310 shares of company stock valued at $15,675,566 in the last three months. Company insiders own 7.21% of the company's stock.

Immunome Price Performance

Immunome stock opened at $28.08 on Friday. Immunome, Inc. has a 1-year low of $8.66 and a 1-year high of $30.06. The firm has a market capitalization of $3.19 billion, a P/E ratio of -11.10 and a beta of 2.08. The company's 50-day moving average is $22.98 and its 200 day moving average is $22.30.

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

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.

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