Immunome, Inc. $IMNM Shares Acquired by EcoR1 Capital LLC

Key Points

• EcoR1 Capital LLC increased its holdings in Immunome, Inc. by 5.2%, owning approximately $27.45 million worth of the stock, which constitutes about 1.6% of their total investments.
• Several institutional investors have recently adjusted their positions in Immunome, with notable increases from firms like Adage Capital Partners and Redmile Group, indicating growing interest in the company.
• Immunome's stock has seen fluctuations, reaching a 12-month high of $16.73 and showing a current market capitalization of $892.21 million, with analysts maintaining an average rating of "Buy" and a target price of $22.50.

EcoR1 Capital LLC grew its holdings in Immunome, Inc. (NASDAQ:IMNM - Free Report) by 5.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,079,415 shares of the company's stock after buying an additional 200,000 shares during the quarter. Immunome accounts for 1.6% of EcoR1 Capital LLC's investment portfolio, making the stock its 12th largest position. EcoR1 Capital LLC owned about 4.69% of Immunome worth $27,454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IMNM. Enavate Sciences GP LLC purchased a new stake in shares of Immunome in the fourth quarter valued at approximately $36,939,000. Primecap Management Co. CA increased its position in shares of Immunome by 1,115.7% in the first quarter. Primecap Management Co. CA now owns 3,413,700 shares of the company's stock valued at $22,974,000 after buying an additional 3,132,900 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Immunome by 37.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company's stock valued at $50,843,000 after buying an additional 2,054,640 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Immunome by 43.4% in the first quarter. Vanguard Group Inc. now owns 4,307,191 shares of the company's stock valued at $28,987,000 after buying an additional 1,303,753 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Immunome during the first quarter worth approximately $4,109,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IMNM. Wedbush reiterated an "outperform" rating and set a $21.00 price target on shares of Immunome in a research report on Thursday, August 7th. Guggenheim reiterated a "buy" rating and set a $25.00 price target on shares of Immunome in a research report on Monday, August 25th. JPMorgan Chase & Co. dropped their price target on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Evercore ISI initiated coverage on Immunome in a research note on Friday, August 22nd. They set an "outperform" rating and a $18.00 price objective on the stock. Finally, Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Immunome presently has a consensus rating of "Buy" and an average target price of $22.89.

Immunome Trading Down 10.6%

NASDAQ IMNM traded down $1.12 on Monday, reaching $9.40. 1,228,820 shares of the company were exchanged, compared to its average volume of 992,299. The business's fifty day moving average price is $9.89 and its 200 day moving average price is $8.83. The stock has a market capitalization of $818.18 million, a P/E ratio of -3.05 and a beta of 1.92. Immunome, Inc. has a fifty-two week low of $5.15 and a fifty-two week high of $16.73.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.02. Immunome had a negative return on equity of 76.10% and a negative net margin of 1,687.08%.The business had revenue of $4.02 million for the quarter, compared to analyst estimates of $1.03 million. Equities research analysts forecast that Immunome, Inc. will post -2.21 earnings per share for the current year.

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.