Goldman Sachs Group Inc. Decreases Stake in Immunome, Inc. $IMNM

Key Points

• Goldman Sachs Group Inc. reduced its stake in Immunome, Inc. by 29.4% during the first quarter, holding approximately 0.22% of the company worth $1.3 million after selling 80,459 shares.
• Immunome's stock has seen a recent decline of 4.7%, trading at $9.39, despite the company reporting earnings that slightly beat analyst expectations.
• Several hedge funds have increased their holdings in Immunome, with notable purchases leading to a significant boost in shares from firms like Woodline Partners LP and Voya Investment Management LLC.

Goldman Sachs Group Inc. decreased its holdings in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 29.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 193,302 shares of the company's stock after selling 80,459 shares during the period. Goldman Sachs Group Inc. owned approximately 0.22% of Immunome worth $1,301,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in Immunome in the fourth quarter valued at approximately $70,000. Deutsche Bank AG grew its holdings in Immunome by 50.8% in the 4th quarter. Deutsche Bank AG now owns 46,075 shares of the company's stock valued at $489,000 after buying an additional 15,514 shares in the last quarter. Millennium Management LLC purchased a new stake in Immunome in the 4th quarter valued at $1,683,000. ProShare Advisors LLC purchased a new stake in Immunome in the 4th quarter valued at $154,000. Finally, Two Sigma Investments LP purchased a new stake in Immunome in the 4th quarter valued at $1,640,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Immunome Stock Performance

Shares of IMNM traded up $0.63 during midday trading on Tuesday, hitting $10.40. The company had a trading volume of 837,998 shares, compared to its average volume of 1,032,231. The company's 50-day simple moving average is $10.03 and its 200-day simple moving average is $8.84. The firm has a market capitalization of $904.78 million, a P/E ratio of -3.39 and a beta of 1.92. Immunome, Inc. has a 1 year low of $5.15 and a 1 year high of $15.20.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IMNM shares. JPMorgan Chase & Co. lowered their price target on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. The Goldman Sachs Group started coverage on Immunome in a report on Monday. They set a "buy" rating and a $26.00 price target for the company. Evercore ISI initiated coverage on Immunome in a report on Friday, August 22nd. They set an "outperform" rating and a $18.00 price target for the company. Wedbush restated an "outperform" rating and set a $21.00 target price on shares of Immunome in a report on Thursday, September 18th. Finally, Guggenheim restated a "buy" rating and set a $25.00 target price on shares of Immunome in a report on Monday, August 25th. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $23.20.

About Immunome

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.