JPMorgan Chase & Co. Cuts Stock Holdings in Immunome, Inc. $IMNM

Key Points

• JPMorgan Chase & Co. reduced its stake in Immunome by 94.3% in Q3, selling 543,527 shares and leaving 32,603 shares worth about $382,000.
• Other institutions increased exposure—Vanguard now holds 4,893,626 shares (~$57.3M) and Principal, Candriam and others added material positions, leaving institutional ownership at 44.58%.
• Analysts have a consensus "Moderate Buy" with an average price target of $33.45, while the stock trades near $22.90 after a recent quarterly EPS miss and a negative forward earnings outlook.

JPMorgan Chase & Co. decreased its stake in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 94.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,603 shares of the company's stock after selling 543,527 shares during the period. JPMorgan Chase & Co.'s holdings in Immunome were worth $382,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Immunome by 8.1% in the third quarter. Vanguard Group Inc. now owns 4,893,626 shares of the company's stock worth $57,304,000 after purchasing an additional 368,674 shares during the last quarter. Principal Financial Group Inc. boosted its position in Immunome by 222.3% in the third quarter. Principal Financial Group Inc. now owns 1,104,938 shares of the company's stock worth $12,939,000 after purchasing an additional 762,147 shares during the last quarter. Polar Capital Holdings Plc boosted its position in Immunome by 5.9% in the third quarter. Polar Capital Holdings Plc now owns 1,058,776 shares of the company's stock worth $12,398,000 after purchasing an additional 58,776 shares during the last quarter. Candriam S.C.A. boosted its position in Immunome by 170.2% in the third quarter. Candriam S.C.A. now owns 859,527 shares of the company's stock worth $10,065,000 after purchasing an additional 541,441 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Immunome by 15.8% in the third quarter. TD Asset Management Inc now owns 701,280 shares of the company's stock worth $8,212,000 after purchasing an additional 95,750 shares during the last quarter. Hedge funds and other institutional investors own 44.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IMNM shares. Guggenheim boosted their price objective on Immunome from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, December 16th. HC Wainwright started coverage on Immunome in a research report on Thursday, February 12th. They issued a "buy" rating and a $40.00 price objective on the stock. Wall Street Zen cut Immunome from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Craig Hallum boosted their price objective on Immunome from $33.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Finally, Wedbush reissued an "outperform" rating and issued a $31.00 price objective on shares of Immunome in a research report on Thursday, January 15th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Immunome presently has a consensus rating of "Moderate Buy" and an average price target of $33.45.

Immunome Price Performance

Shares of IMNM opened at $22.90 on Wednesday. The firm has a market cap of $2.59 billion, a PE ratio of -9.46 and a beta of 2.13. The stock's fifty day moving average price is $21.86 and its two-hundred day moving average price is $19.94. Immunome, Inc. has a 1 year low of $6.96 and a 1 year high of $27.65.

Immunome (NASDAQ:IMNM - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.10). Sell-side analysts anticipate that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Immunome

In other Immunome news, Director Philip Wagenheim sold 28,200 shares of the business's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $20.65, for a total value of $582,330.00. Following the sale, the director directly owned 341,147 shares in the company, valued at $7,044,685.55. The trade was a 7.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jack Higgins sold 9,438 shares of the business's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $21.64, for a total value of $204,238.32. Following the completion of the sale, the insider owned 22,000 shares in the company, valued at approximately $476,080. The trade was a 30.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,438 shares of company stock worth $2,964,664 over the last ninety days. 7.69% of the stock is currently owned by company insiders.

Immunome 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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