Immunome, Inc. $IMNM is Redmile Group LLC's 9th Largest Position

Key Points

• Redmile Group LLC increased its position in Immunome, Inc., owning 5,361,187 shares after acquiring an additional 533,161 shares, representing 6.16% of the company valued at approximately $36 million.
• Multiple equities research analysts have given Immunome an average rating of "Buy" with varying price targets, including $18.00 from Evercore ISI and $25.00 from Guggenheim.
• Immunome reported earnings of ($0.50) per share, surpassing estimates, with revenue of $4.02 million for the last quarter, indicating significant growth potential despite having a negative net margin.

Redmile Group LLC grew its holdings in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,361,187 shares of the company's stock after acquiring an additional 533,161 shares during the quarter. Immunome accounts for approximately 3.4% of Redmile Group LLC's investment portfolio, making the stock its 9th largest position. Redmile Group LLC owned 6.16% of Immunome worth $36,081,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Immunome by 6.4% in the first quarter. Invesco Ltd. now owns 28,379 shares of the company's stock valued at $191,000 after buying an additional 1,718 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Immunome by 5.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,505 shares of the company's stock valued at $441,000 after buying an additional 2,005 shares during the period. Wellington Management Group LLP increased its stake in shares of Immunome by 3.5% in the fourth quarter. Wellington Management Group LLP now owns 145,564 shares of the company's stock valued at $1,546,000 after buying an additional 4,874 shares during the period. MetLife Investment Management LLC increased its stake in shares of Immunome by 17.7% in the fourth quarter. MetLife Investment Management LLC now owns 35,619 shares of the company's stock valued at $378,000 after buying an additional 5,354 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Immunome by 49.0% in the first quarter. Teacher Retirement System of Texas now owns 17,360 shares of the company's stock valued at $117,000 after buying an additional 5,712 shares during the period. Institutional investors and hedge funds own 44.58% of the company's stock.

Immunome Stock Performance

Shares of Immunome stock traded up $0.72 on Friday, reaching $10.52. 1,358,969 shares of the company's stock were exchanged, compared to its average volume of 639,399. The company has a market capitalization of $915.66 million, a P/E ratio of -3.42 and a beta of 1.92. Immunome, Inc. has a 52 week low of $5.15 and a 52 week high of $16.73. The firm's 50-day moving average is $9.89 and its two-hundred day moving average is $8.85.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $4.02 million for the quarter, compared to analysts' expectations of $1.03 million. On average, analysts expect that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IMNM. Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Craig Hallum started coverage on Immunome in a report on Friday. They issued a "buy" rating and a $26.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Immunome from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Guggenheim reiterated a "buy" rating and issued a $25.00 target price on shares of Immunome in a report on Monday, August 25th. Finally, Evercore ISI started coverage on Immunome in a report on Friday, August 22nd. They issued an "outperform" rating and a $18.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $22.89.

Immunome Company 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.