Corient Private Wealth LP Acquires New Shares in Immunome, Inc. $IMNM

Key Points

• Corient Private Wealth initiated a 43,227-share position in Immunome valued at approximately $916,000. Institutional investors collectively own 44.58% of the company.
• Immunome reported a quarterly loss of $0.65 per share, missing analyst expectations of a $0.51 loss; analysts project a full-year loss of $2.38 per share.
• Analysts maintain a generally positive view, with 12 Buy ratings and one Sell rating and a consensus price target of $34.64. However, insiders sold 682,310 shares worth about $15.7 million over the past three months.

Corient Private Wealth LP bought a new stake in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,227 shares of the company's stock, valued at approximately $916,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP bought a new position in shares of Immunome in the second quarter worth $25,000. KBC Group NV bought a new stake in shares of Immunome during the 1st quarter valued at $60,000. Strs Ohio bought a new stake in shares of Immunome during the 4th quarter valued at $64,000. Assetmark Inc. lifted its holdings in Immunome by 46.6% during the 1st quarter. Assetmark Inc. now owns 4,535 shares of the company's stock worth $99,000 after purchasing an additional 1,442 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Immunome during the 2nd quarter worth about $109,000. Institutional investors own 44.58% of the company's stock.

Immunome Stock Performance

NASDAQ:IMNM opened at $26.76 on Friday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -10.58 and a beta of 2.13. Immunome, Inc. has a 52-week low of $8.66 and a 52-week high of $30.06. The stock has a fifty day moving average of $24.96 and a 200 day moving average of $22.57.

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

Analysts Set New Price Targets

A number of research firms have weighed in on IMNM. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immunome in a report on Friday, July 17th. Leerink Partners lowered their price target on shares of Immunome from $37.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. HC Wainwright reissued a "buy" rating on shares of Immunome in a report on Thursday, July 9th. Truist Financial raised their price objective on shares of Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Finally, Barclays began coverage on shares of Immunome in a research note on Thursday, May 28th. They set an "overweight" rating and a $36.00 price objective for the company. 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, Immunome presently has an average rating of "Moderate Buy" and a consensus target price of $34.64.

Insiders Place Their Bets

In related news, insider Kinney Horn sold 90,616 shares of the firm's stock in a transaction that occurred on 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 sale, the insider directly owned 50,366 shares of the company's stock, valued at $1,263,682.94. This trade represents a 64.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 101,050 shares of Immunome stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the sale, the director owned 308,504 shares of the company's stock, valued at approximately $6,515,604.48. The trade was a 24.67% decrease in their ownership of the stock. 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 682,310 shares of company stock worth $15,675,566 over the last three months. Company insiders own 7.21% of the company's stock.

About Immunome

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.