Woodline Partners LP Buys 676,804 Shares of Immunome, Inc. $IMNM

Key Points

• Woodline Partners LP increased its stake in Immunome, Inc. by 69% during Q1, owning 1,657,729 shares valued at approximately $11.16 million, indicating strong institutional interest in the company.
• Multiple analysts have rated Immunome positively, with average price targets ranging from $18.00 to $26.00, suggesting a favorable outlook for the stock in the coming months.
• Immunome's stock opened at $9.68, with a market capitalization of $842.55 million, while the company reported earnings above analyst expectations despite a negative net margin.

Woodline Partners LP lifted its position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 69.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,657,729 shares of the company's stock after purchasing an additional 676,804 shares during the quarter. Woodline Partners LP owned approximately 1.91% of Immunome worth $11,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Zimmer Partners LP acquired a new stake in shares of Immunome during the 1st quarter worth approximately $673,000. Exome Asset Management LLC acquired a new stake in shares of Immunome during the 1st quarter worth approximately $1,776,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Immunome by 44.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company's stock worth $316,000 after purchasing an additional 14,398 shares in the last quarter. Granahan Investment Management LLC grew its holdings in shares of Immunome by 33.4% during the 1st quarter. Granahan Investment Management LLC now owns 419,271 shares of the company's stock worth $2,822,000 after purchasing an additional 105,032 shares in the last quarter. Finally, EcoR1 Capital LLC grew its holdings in shares of Immunome by 5.2% during the 1st quarter. EcoR1 Capital LLC now owns 4,079,415 shares of the company's stock worth $27,454,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 44.58% of the company's stock.

Immunome Stock Performance

IMNM traded up $0.26 during mid-day trading on Wednesday, reaching $9.35. The stock had a trading volume of 253,125 shares, compared to its average volume of 1,014,595. The stock has a market capitalization of $813.82 million, a P/E ratio of -3.05 and a beta of 1.92. The firm's fifty day simple moving average is $9.97 and its two-hundred day simple moving average is $8.83. Immunome, Inc. has a 52 week low of $5.15 and a 52 week high of $16.55.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping 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. As a group, analysts expect that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI assumed coverage on Immunome in a report on Friday, August 22nd. They set an "outperform" rating and a $18.00 price objective on the stock. Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their target price on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Craig Hallum assumed coverage on Immunome in a report on Friday, September 5th. They issued a "buy" rating and a $26.00 target price for the company. Finally, Guggenheim reissued a "buy" rating and issued a $25.00 target price on shares of Immunome in a report on Monday, August 25th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $22.89.

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.