Readystate Asset Management LP Acquires 303,958 Shares of Immunome, Inc. $IMNM

Key Points

• Readystate Asset Management increased its Immunome stake by 23.3% in the second quarter, purchasing 303,958 shares and bringing its holdings to 1.61 million shares worth approximately $34.0 million.
• Immunome reported a quarterly loss of $0.65 per share, missing analyst expectations of a $0.51 loss; analysts project a full-year loss of $2.38 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $34.64, although insiders sold 682,310 shares worth $15.7 million over the past 90 days.

Readystate Asset Management LP raised its holdings in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 23.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,605,820 shares of the company's stock after buying an additional 303,958 shares during the period. Immunome comprises approximately 1.2% of Readystate Asset Management LP's portfolio, making the stock its 13th largest position. Readystate Asset Management LP owned about 1.41% of Immunome worth $34,027,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IMNM. Allworth Financial LP bought a new stake in shares of Immunome in the 2nd quarter valued at about $25,000. KBC Group NV purchased a new position in Immunome in the 1st quarter worth approximately $60,000. Strs Ohio purchased a new position in Immunome in the 4th quarter worth approximately $64,000. Assetmark Inc. lifted its position in Immunome by 46.6% in the first quarter. Assetmark Inc. now owns 4,535 shares of the company's stock valued at $99,000 after purchasing an additional 1,442 shares during the last quarter. Finally, State of Wyoming bought a new stake in Immunome in the second quarter valued at approximately $109,000. 44.58% of the stock is owned by institutional investors.

Immunome Stock Performance

Shares of IMNM stock opened at $26.76 on Monday. Immunome, Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $30.06. The firm has a market cap of $3.04 billion, a P/E ratio of -10.58 and a beta of 2.13. The business's 50 day moving average price is $24.96 and its 200-day moving average price is $22.58.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.14). As a group, equities analysts predict that Immunome, Inc. will post -2.38 EPS for the current year.

Insider Activity at Immunome

In other Immunome news, insider Kinney Horn sold 90,616 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $25.09, for a total transaction of $2,273,555.44. Following the transaction, the insider directly owned 50,366 shares of the company's stock, valued at approximately $1,263,682.94. The trade was a 64.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of the company's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $19.85, for a total transaction of $1,091,750.00. Following the completion of the transaction, the insider owned 15,805 shares of the company's stock, valued at $313,729.25. This trade represents a 77.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 682,310 shares of company stock valued at $15,675,566 in the last 90 days. 7.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IMNM. Wall Street Zen cut shares of Immunome from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Wedbush upped their price target on shares of Immunome from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Truist Financial increased their price target on shares of Immunome from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Citigroup reissued a "buy" rating on shares of Immunome in a report on Thursday, July 9th. Finally, Barclays initiated coverage on shares of Immunome in a research report on Thursday, May 28th. They issued an "overweight" rating and a $36.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Immunome has a consensus rating of "Moderate Buy" and an average price target of $34.64.

About Immunome

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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