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 increased its position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 1,115.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,413,700 shares of the company's stock after purchasing an additional 3,132,900 shares during the period. Primecap Management Co. CA owned 3.92% of Immunome worth $22,974,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IMNM. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Immunome by 24.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,544 shares of the company's stock valued at $347,000 after buying an additional 10,039 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Immunome during the fourth quarter worth $1,640,000. ProShare Advisors LLC purchased a new stake in shares of Immunome during the fourth quarter valued at $154,000. JPMorgan Chase & Co. boosted its position in shares of Immunome by 2,540.4% in the 4th quarter. JPMorgan Chase & Co. now owns 648,610 shares of the company's stock valued at $6,888,000 after purchasing an additional 624,045 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Immunome by 17.7% in the 4th quarter. MetLife Investment Management LLC now owns 35,619 shares of the company's stock worth $378,000 after purchasing an additional 5,354 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on IMNM shares. Wall Street Zen raised shares of Immunome from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective on Immunome from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Wedbush reiterated an "outperform" rating and set a $21.00 price objective on shares of Immunome in a report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Immunome currently has an average rating of "Moderate Buy" and a consensus target price of $23.14.

Insider Activity

In related news, Director Jean Jacques Bienaime bought 5,000 shares of Immunome stock in a transaction that occurred on Tuesday, June 3rd. The stock was acquired at an average price of $9.38 per share, for a total transaction of $46,900.00. Following the completion of the purchase, the director owned 36,415 shares in the company, valued at approximately $341,572.70. This represents a 15.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.60% of the company's stock.

Immunome Stock Performance

Shares of NASDAQ:IMNM traded down $0.18 during midday trading on Friday, hitting $9.69. The company's stock had a trading volume of 579,893 shares, compared to its average volume of 823,784. The stock's 50 day simple moving average is $9.55 and its 200 day simple moving average is $8.91. The stock has a market capitalization of $843.42 million, a price-to-earnings ratio of -3.15 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 quarterly earnings data on Wednesday, August 6th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.02. Immunome had a negative return on equity of 78.93% and a negative net margin of 1,687.08%. The company had revenue of $4.02 million during the quarter, compared to analysts' expectations of $1.03 million. As a group, analysts anticipate that Immunome, Inc. will post -2.21 EPS for the current year.

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.