Nan Fung Trinity HK Ltd. Grows Position in Immunome, Inc. $IMNM

Key Points

• Nan Fung Trinity HK Ltd. boosted its stake in Immunome by 20.7% in the fourth quarter, holding 714,553 shares worth about $15.35 million after buying 122,450 more shares.
• Several other institutional investors also increased exposure, and hedge funds and other institutions now own 44.58% of Immunome’s stock.
• Analysts remain mostly positive on IMNM, with a Moderate Buy consensus and an average price target of $33.45, even as the company reported a wider-than-expected quarterly loss and saw notable insider selling.

Nan Fung Trinity HK Ltd. increased its holdings in Immunome, Inc. (NASDAQ:IMNM - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 714,553 shares of the company's stock after acquiring an additional 122,450 shares during the quarter. Nan Fung Trinity HK Ltd. owned approximately 0.78% of Immunome worth $15,349,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in Immunome by 3,513.0% in the third quarter. Nisa Investment Advisors LLC now owns 80,426 shares of the company's stock worth $942,000 after purchasing an additional 78,200 shares in the last quarter. NEOS Investment Management LLC raised its holdings in Immunome by 40.5% in the third quarter. NEOS Investment Management LLC now owns 162,186 shares of the company's stock worth $1,899,000 after purchasing an additional 46,755 shares in the last quarter. Pivotal bioVenture Partners Investment Advisor LLC bought a new position in Immunome in the third quarter worth about $5,884,000. Principal Financial Group Inc. raised its holdings 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 in the last quarter. Finally, TD Asset Management Inc raised its holdings 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 in the last quarter. 44.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IMNM. Craig Hallum boosted their target price on shares of Immunome from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, March 4th. Stephens reduced their target price on shares of Immunome from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Wednesday, March 4th. Truist Financial upgraded shares of Immunome to a "strong-buy" rating in a report on Monday, May 4th. Wedbush reiterated an "outperform" rating and issued a $31.00 target price on shares of Immunome in a report on Thursday, January 15th. Finally, Wall Street Zen downgraded shares of Immunome from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.45.

Insiders Place Their Bets

In other Immunome news, insider Jack Higgins sold 9,438 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $21.64, for a total transaction of $204,238.32. Following the sale, the insider owned 22,000 shares of the company's stock, valued at approximately $476,080. The trade was a 30.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Max Rosett sold 65,000 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $21.92, for a total transaction of $1,424,800.00. Following the sale, the chief financial officer directly owned 54,037 shares in the company, valued at approximately $1,184,491.04. This represents a 54.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 139,438 shares of company stock valued at $2,964,664. Insiders own 7.21% of the company's stock.

Immunome Stock Up 1.1%

Shares of Immunome stock opened at $22.44 on Friday. The firm has a market capitalization of $2.54 billion, a P/E ratio of -9.27 and a beta of 2.11. Immunome, Inc. has a 52 week low of $7.39 and a 52 week high of $27.65. The company has a 50 day moving average price of $21.94 and a 200 day moving average price of $20.97.

Immunome (NASDAQ:IMNM - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.10). As a group, research analysts anticipate that Immunome, Inc. will post -2.5 earnings per share for the current fiscal year.

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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