Readystate Asset Management LP Has $28.47 Million Position in Immunome, Inc. $IMNM

Key Points

• Readystate Asset Management reduced its Immunome stake by 29.4% in the first quarter, selling 541,348 shares and retaining 1.30 million shares worth approximately $28.47 million. Institutional investors and hedge funds collectively own 44.58% of the company.
• Immunome insiders sold 472,142 shares valued at $10.26 million over the past 90 days, including substantial sales by the CFO and a director under pre-arranged Rule 10b5-1 plans.
• Analysts remain broadly positive, with 13 Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $33.17, compared with the stock’s reported price of $23.22. The company reported a quarterly loss of $0.48 per share, beating estimates of a $0.60 loss.

Readystate Asset Management LP lessened its stake in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 29.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,301,862 shares of the company's stock after selling 541,348 shares during the period. Immunome accounts for about 1.3% of Readystate Asset Management LP's portfolio, making the stock its 14th biggest position. Readystate Asset Management LP owned about 1.15% of Immunome worth $28,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Immunome by 4.0% during the 3rd quarter. Creative Planning now owns 18,664 shares of the company's stock valued at $219,000 after acquiring an additional 710 shares during the period. Russell Investments Group Ltd. lifted its position in Immunome by 14.4% during the fourth quarter. Russell Investments Group Ltd. now owns 7,417 shares of the company's stock worth $159,000 after purchasing an additional 935 shares during the period. California State Teachers Retirement System lifted its position in Immunome by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 67,012 shares of the company's stock worth $1,439,000 after purchasing an additional 1,167 shares during the period. Assetmark Inc. increased its holdings in Immunome by 46.6% in the 1st quarter. Assetmark Inc. now owns 4,535 shares of the company's stock valued at $99,000 after buying an additional 1,442 shares during the period. Finally, Virtus Investment Advisers LLC raised its position in shares of Immunome by 16.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 13,593 shares of the company's stock valued at $292,000 after buying an additional 1,970 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Immunome news, CFO Max Rosett sold 60,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $18.23, for a total value of $1,093,800.00. Following the completion of the transaction, the chief financial officer owned 54,037 shares of the company's stock, valued at $985,094.51. This represents a 52.61% decrease in their position. The sale 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, Director Isaac Barchas sold 101,050 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $21.12, for a total value of $2,134,176.00. Following the completion of the transaction, the director owned 308,504 shares of the company's stock, valued at $6,515,604.48. This represents a 24.67% 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 472,142 shares of company stock worth $10,262,648 in the last ninety days. Insiders own 7.21% of the company's stock.

Immunome Price Performance

Shares of NASDAQ:IMNM opened at $23.22 on Wednesday. Immunome, Inc. has a one year low of $8.66 and a one year high of $27.65. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -9.76 and a beta of 2.07. The firm has a 50 day simple moving average of $21.15 and a 200 day simple moving average of $22.00.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts' consensus estimates of ($0.60) by $0.12. As a group, analysts expect that Immunome, Inc. will post -2.06 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IMNM. Truist Financial upped their price target on shares of Immunome from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Immunome from a "hold" rating to a "sell" rating in a research report on Saturday, May 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Immunome in a research report on Friday, July 17th. Leerink Partners cut their target price on Immunome from $37.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Finally, Wedbush reiterated an "outperform" rating and issued a $31.00 price target on shares of Immunome in a research note on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.17.

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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