BlackRock Inc. Takes $186.59 Million Position in Immunome, Inc. $IMNM

Key Points

• BlackRock acquired 8.8 million Immunome shares worth approximately $186.6 million, giving it a 7.78% stake. Institutional investors and hedge funds collectively own 44.58% of the company.
• Analyst sentiment remains generally positive, with 12 Buy ratings and one Sell rating, a “Moderate Buy” consensus, and an average price target of $34.64. However, some firms recently lowered ratings or price targets.
• Immunome reported a quarterly loss of $0.65 per share, missing the $0.51 consensus estimate. The stock opened at $28.87, near its 52-week high of $30.06, while insiders have sold approximately $15.7 million of shares over the past 90 days.

BlackRock Inc. bought a new position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,805,492 shares of the company's stock, valued at approximately $186,588,000. BlackRock Inc. owned approximately 7.78% of Immunome as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Immunome by 44.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company's stock valued at $316,000 after acquiring an additional 14,398 shares during the last quarter. Creative Planning acquired a new stake in shares of Immunome in the second quarter worth approximately $167,000. Rhumbline Advisers boosted its stake in shares of Immunome by 22.0% in the second quarter. Rhumbline Advisers now owns 108,414 shares of the company's stock worth $1,008,000 after acquiring an additional 19,526 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Immunome by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 280,816 shares of the company's stock worth $2,612,000 after purchasing an additional 9,686 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Immunome during the second quarter worth approximately $1,021,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Insider Buying and Selling

In other Immunome news, Director Isaac Barchas sold 11,048 shares of Immunome stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $27.25, for a total transaction of $301,058.00. Following the transaction, the director directly owned 92,211 shares of the company's stock, valued at $2,512,749.75. The trade was a 10.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $22.62, for a total transaction of $1,244,100.00. Following the completion of the transaction, the insider owned 15,805 shares in the company, valued at $357,509.10. The trade was a 77.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 682,310 shares of company stock worth $15,675,566. Insiders own 7.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IMNM. Truist Financial increased their price objective on Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunome in a report on Friday, July 17th. HC Wainwright reiterated a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Wall Street Zen cut shares of Immunome from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Leerink Partners decreased their price target on shares of Immunome from $37.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $34.64.

Immunome Stock Performance

NASDAQ IMNM opened at $28.87 on Friday. The stock's fifty day moving average is $24.02 and its two-hundred day moving average is $22.41. The firm has a market capitalization of $3.28 billion, a P/E ratio of -11.41 and a beta of 2.08. Immunome, Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $30.06.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results 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). As a group, sell-side analysts forecast that Immunome, Inc. will post -2.38 EPS for the current year.

Immunome 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source