Granahan Investment Management LLC Acquires 105,032 Shares of Immunome, Inc. $IMNM

Key Points

• Granahan Investment Management LLC increased its stake in Immunome, Inc. by 33.4%, owning approximately 0.48% of the company with a total value of $2.82 million as of the end of the last quarter.
• Multiple analysts have provided positive ratings for Immunome, with stock price targets ranging from $18.00 to $26.00 and a consensus average target of $22.89.
• Immunome's stock price rose by 7.3%, with recent earnings exceeding analysts' expectations, reporting revenue of $4.02 million against a consensus estimate of $1.03 million.

Granahan Investment Management LLC raised its stake in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 33.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 419,271 shares of the company's stock after buying an additional 105,032 shares during the period. Granahan Investment Management LLC owned about 0.48% of Immunome worth $2,822,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Immunome by 2,822.9% in the 1st quarter. GAMMA Investing LLC now owns 6,138 shares of the company's stock worth $410,000 after purchasing an additional 5,928 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Immunome in the 4th quarter worth $70,000. Tower Research Capital LLC TRC increased its stake in shares of Immunome by 482.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock worth $91,000 after purchasing an additional 7,129 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Immunome in the 1st quarter worth $95,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Immunome in the 4th quarter worth $154,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Immunome Stock Performance

Shares of IMNM traded up $0.36 during midday trading on Thursday, hitting $9.36. 166,266 shares of the company traded hands, compared to its average volume of 989,839. The firm has a 50 day moving average of $9.91 and a 200-day moving average of $8.84. Immunome, Inc. has a 52 week low of $5.15 and a 52 week high of $16.73. The stock has a market cap of $814.26 million, a price-to-earnings ratio of -3.05 and a beta of 1.92.

Immunome (NASDAQ:IMNM - Get Free Report) last released its quarterly earnings data 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 net margin of 1,687.08% and a negative return on equity of 76.10%. The business had revenue of $4.02 million during the quarter, compared to the consensus estimate of $1.03 million. Sell-side analysts predict that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

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.