California State Teachers Retirement System Has $2.44 Million Stock Position in Immunome, Inc. $IMNM

Key Points

• California State Teachers Retirement System increased its Immunome stake by 66.3% in the first quarter, owning 111,444 shares worth approximately $2.44 million. Institutional investors and hedge funds collectively own 44.58% of the company.
• Immunome insiders sold 598,846 shares worth $13.48 million over the past 90 days, including sales by an insider and a director under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a broadly positive outlook, with 12 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $34.18. The stock recently traded at $25.69, while the company reported a better-than-expected quarterly loss of $0.48 per share.

California State Teachers Retirement System grew its stake in Immunome, Inc. (NASDAQ:IMNM - Free Report) by 66.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,444 shares of the company's stock after purchasing an additional 44,432 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Immunome worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of IMNM. T. Rowe Price Investment Management Inc. grew its position in Immunome by 59.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company's stock valued at $288,305,000 after acquiring an additional 5,003,824 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Immunome by 8,659.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company's stock valued at $61,341,000 after acquiring an additional 2,823,144 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Immunome by 55.2% during the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company's stock valued at $100,643,000 after acquiring an additional 1,667,432 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Immunome in the 4th quarter valued at $30,710,000. Finally, Sofinnova Investments Inc. boosted its stake in shares of Immunome by 271.2% in the 4th quarter. Sofinnova Investments Inc. now owns 1,618,477 shares of the company's stock valued at $34,765,000 after purchasing an additional 1,182,426 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Robert Lechleider sold 55,000 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total transaction of $1,244,100.00. Following the completion of the sale, 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 15,248 shares of Immunome stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $26.06, for a total value of $397,362.88. Following the completion of the sale, the director owned 72,416 shares of the company's stock, valued at approximately $1,887,160.96. The trade was a 17.39% 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. In the last ninety days, insiders sold 598,846 shares of company stock valued at $13,476,656. Company insiders own 7.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IMNM shares. Citigroup restated a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Wedbush reiterated an "outperform" rating and issued a $31.00 target price on shares of Immunome in a research note on Tuesday, July 21st. HC Wainwright reissued a "buy" rating on shares of Immunome in a report on Thursday, July 9th. Leerink Partners reduced their target price on Immunome from $37.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Immunome in a research report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.18.

Immunome Trading Up 2.6%

IMNM opened at $25.69 on Tuesday. Immunome, Inc. has a 1-year low of $8.66 and a 1-year high of $27.65. The stock has a market capitalization of $2.91 billion, a PE ratio of -10.79 and a beta of 2.07. The firm has a 50-day moving average price of $21.59 and a two-hundred day moving average price of $22.17.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.60) by $0.12. On average, research analysts predict that Immunome, Inc. will post -2.06 EPS for the current 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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