Bank of America Corp DE Trims Stake in Immunome, Inc. (NASDAQ:IMNM)

Bank of America Corp DE decreased its position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 50.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,917 shares of the company's stock after selling 44,020 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Immunome worth $466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in Immunome during the fourth quarter valued at about $70,000. KLP Kapitalforvaltning AS bought a new stake in Immunome during the fourth quarter valued at about $75,000. AlphaQuest LLC boosted its position in Immunome by 786,700.0% during the fourth quarter. AlphaQuest LLC now owns 7,868 shares of the company's stock valued at $84,000 after purchasing an additional 7,867 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Immunome by 482.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock valued at $91,000 after purchasing an additional 7,129 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Immunome during the fourth quarter valued at about $95,000. Institutional investors own 44.58% of the company's stock.

Insider Transactions at Immunome

In other news, CEO Clay B. Siegall purchased 137,100 shares of the stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of $7.29 per share, with a total value of $999,459.00. Following the completion of the purchase, the chief executive officer now directly owns 806,736 shares of the company's stock, valued at approximately $5,881,105.44. The trade was a 20.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Philip Tsai acquired 12,300 shares of the stock in a transaction on Monday, March 24th. The shares were bought at an average cost of $8.42 per share, for a total transaction of $103,566.00. Following the purchase, the chief technology officer now directly owns 33,300 shares of the company's stock, valued at $280,386. The trade was a 58.57% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 161,400 shares of company stock valued at $1,207,395 over the last ninety days. Insiders own 8.60% of the company's stock.

Immunome Trading Down 6.0%

IMNM traded down $0.59 during trading on Friday, hitting $9.20. The company's stock had a trading volume of 1,258,126 shares, compared to its average volume of 921,691. Immunome, Inc. has a twelve month low of $5.15 and a twelve month high of $16.81. The business's fifty day simple moving average is $8.22 and its 200 day simple moving average is $9.45. The firm has a market capitalization of $800.51 million, a price-to-earnings ratio of -1.13 and a beta of 1.94.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IMNM shares. Guggenheim lowered their price target 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 target on shares of Immunome in a report on Thursday, March 20th. Wedbush reissued an "outperform" rating and issued a $21.00 price target (down previously from $33.00) on shares of Immunome in a report on Tuesday, May 13th. Lake Street Capital started coverage on Immunome in a report on Wednesday, April 2nd. They issued a "buy" rating and a $23.00 price target for the company. Finally, Lifesci Capital started coverage on Immunome in a report on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price target for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Immunome has a consensus rating of "Moderate Buy" and a consensus target price of $23.33.

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.