Primecap Management Co. CA Buys 3,132,900 Shares of Immunome, Inc. (NASDAQ:IMNM)

Key Points

• Primecap Management Co. CA significantly increased its holdings in Immunome, Inc. by 1,115.7%, owning approximately 3.92% of the company with a value of $22.97 million.
• Immunome's stock has experienced volatility, with a current trading price of $9.87 and a 12-month high of $16.73, alongside analysts predicting a negative EPS of -2.21 for the fiscal year.
• Following recent earnings, where Immunome reported revenues of $4.02 million, several analysts upgraded their ratings, with an average target price for the stock now at $23.14.

Primecap Management Co. CA grew its holdings in Immunome, Inc. (NASDAQ:IMNM - Free Report) by 1,115.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,413,700 shares of the company's stock after purchasing an additional 3,132,900 shares during the quarter. Primecap Management Co. CA owned about 3.92% of Immunome worth $22,974,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Immunome in the 4th quarter worth approximately $70,000. KLP Kapitalforvaltning AS bought a new stake in shares of Immunome during the 4th quarter valued at $75,000. Tower Research Capital LLC TRC raised its position in shares of Immunome by 482.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,608 shares of the company's stock valued at $91,000 after acquiring an additional 7,129 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Immunome during the 4th quarter valued at $95,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Immunome during the 1st quarter valued at $95,000. 44.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $21.00 price target on shares of Immunome in a report on Thursday, August 7th. Wall Street Zen raised shares of Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $23.14.

Insider Activity at Immunome

In other Immunome news, Director Jean Jacques Bienaime bought 5,000 shares of Immunome stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average price of $9.38 per share, with a total value of $46,900.00. Following the acquisition, the director owned 36,415 shares in the company, valued at $341,572.70. This trade represents a 15.92% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.69% of the company's stock.

Immunome Stock Performance

IMNM traded down $0.09 on Tuesday, reaching $9.57. The company had a trading volume of 159,184 shares, compared to its average volume of 1,017,924. The company's fifty day moving average is $9.56 and its 200 day moving average is $8.90. The stock has a market cap of $832.97 million, a P/E ratio of -3.11 and a beta of 1.93. Immunome, Inc. has a fifty-two week low of $5.15 and a fifty-two week high of $16.73.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.50) EPS for the quarter, beating 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 company had revenue of $4.02 million for the quarter, compared to the consensus estimate of $1.03 million. On average, sell-side analysts expect that Immunome, Inc. will post -2.21 EPS for the current year.

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.