Immunome, Inc. $IMNM is Enavate Sciences GP LLC's 2nd Largest Position

Key Points

• Enavate Sciences GP LLC reduced its Immunome stake by 24.2% in the first quarter, but still held 3.61 million shares valued at approximately $79 million. Immunome remains the firm’s second-largest holding and represents 22.5% of its portfolio.
• Institutional ownership remains substantial at 44.58%, with several major investors—including T. Rowe Price, JPMorgan, Primecap, Balyasny, and Sofinnova—building or initiating positions.
• Immunome shares recently traded at $22.58, while analysts maintain a “Moderate Buy” consensus and an average price target of $33.17. The company exceeded quarterly EPS expectations, although insiders have sold significantly more shares than they purchased over the past 90 days.

Enavate Sciences GP LLC trimmed its stake in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 24.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,613,799 shares of the company's stock after selling 1,154,784 shares during the quarter. Immunome comprises 22.5% of Enavate Sciences GP LLC's investment portfolio, making the stock its 2nd biggest holding. Enavate Sciences GP LLC owned 3.19% of Immunome worth $79,034,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 purchasing 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 worth $61,341,000 after purchasing an additional 2,823,144 shares during the period. Primecap Management Co. CA grew its position in Immunome by 55.2% in the 4th quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company's stock valued at $100,643,000 after buying an additional 1,667,432 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Immunome in the 4th quarter valued at $30,710,000. Finally, Sofinnova Investments Inc. increased its stake in 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 buying an additional 1,182,426 shares during the period. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Immunome Stock Up 1.7%

Immunome stock opened at $22.58 on Tuesday. Immunome, Inc. has a 52 week low of $8.66 and a 52 week high of $27.65. The firm's 50-day simple moving average is $21.08 and its 200 day simple moving average is $21.98. The firm has a market capitalization of $2.56 billion, a PE ratio of -9.49 and a beta of 2.07.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) EPS for the quarter, beating analysts' consensus estimates of ($0.60) by $0.12. On average, research analysts expect that Immunome, Inc. will post -2.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IMNM. Citigroup restated a "buy" rating on shares of Immunome in a research report on Thursday, July 9th. Leerink Partners lowered their target price 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. Truist Financial boosted their price target on shares of Immunome from $36.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Barclays initiated coverage on shares of Immunome in a report on Thursday, May 28th. They set an "overweight" rating and a $36.00 price target for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Immunome in a research report on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.17.

Insiders Place Their Bets

In other news, insider Robert Lechleider sold 55,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $22.62, for a total value of $1,244,100.00. Following the sale, the insider directly owned 15,805 shares in the company, valued at $357,509.10. This represents a 77.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jean Jacques Bienaime acquired 10,500 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $19.45 per share, with a total value of $204,225.00. Following the completion of the transaction, the director directly owned 43,415 shares in the company, valued at approximately $844,421.75. The trade was a 31.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 472,142 shares of company stock valued at $10,262,648. Corporate insiders own 7.21% of the company's stock.

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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