Sofinnova Investments Inc. Purchases 1,182,426 Shares of Immunome, Inc. $IMNM

Key Points

• Sofinnova Investments Inc. boosted its Immunome stake by 271.2% in the fourth quarter, buying 1,182,426 additional shares and bringing its total holding to 1,618,477 shares valued at about $34.8 million.
• Other major institutional investors also increased their positions, including JPMorgan Chase, Vanguard, Primecap, and State Street, while institutions overall now own 44.58% of Immunome.
• Insiders have been selling stock recently: CFO Max Rosett and Director Philip Wagenheim both sold shares, and Immunome is trading down 1.7% with analysts maintaining a Moderate Buy consensus and an average price target of $33.17.

Sofinnova Investments Inc. lifted its position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 271.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,618,477 shares of the company's stock after acquiring an additional 1,182,426 shares during the period. Immunome makes up approximately 1.4% of Sofinnova Investments Inc.'s portfolio, making the stock its 22nd largest position. Sofinnova Investments Inc. owned approximately 1.47% of Immunome worth $34,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IMNM. JPMorgan Chase & Co. increased its position in shares of Immunome by 8,659.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company's stock valued at $61,341,000 after acquiring an additional 2,823,144 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Immunome by 55.2% during the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company's stock valued at $100,643,000 after acquiring an additional 1,667,432 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Immunome by 23.4% during the fourth quarter. Vanguard Group Inc. now owns 6,038,414 shares of the company's stock valued at $129,705,000 after acquiring an additional 1,144,788 shares in the last quarter. State Street Corp increased its position in shares of Immunome by 37.9% during the fourth quarter. State Street Corp now owns 3,868,000 shares of the company's stock valued at $83,085,000 after acquiring an additional 1,064,027 shares in the last quarter. Finally, Pivotal bioVenture Partners Investment Advisor LLC bought a new stake in shares of Immunome during the third quarter valued at approximately $5,884,000. Institutional investors own 44.58% of the company's stock.

Insider Activity at Immunome

In other Immunome news, CFO Max Rosett sold 65,000 shares of Immunome stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total value of $1,424,800.00. Following the completion of the sale, the chief financial officer owned 54,037 shares of the company's stock, valued at approximately $1,184,491.04. The trade was a 54.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Philip Wagenheim sold 28,200 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $20.65, for a total transaction of $582,330.00. Following the sale, the director directly owned 341,147 shares of the company's stock, valued at approximately $7,044,685.55. The trade was a 7.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 139,438 shares of company stock worth $2,964,664. Company insiders own 7.21% of the company's stock.

Immunome Trading Down 1.7%

NASDAQ:IMNM opened at $18.07 on Tuesday. Immunome, Inc. has a 12 month low of $7.96 and a 12 month high of $27.65. The company has a market cap of $2.05 billion, a PE ratio of -7.59 and a beta of 2.04. The company has a 50 day simple moving average of $21.70 and a two-hundred day simple moving average of $21.71.

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

Wall Street Analysts Forecast Growth

IMNM has been the subject of several analyst reports. Wedbush reissued an "outperform" rating and set a $31.00 price target on shares of Immunome in a research report on Friday. Stephens reduced their price target on shares of Immunome from $33.00 to $30.00 and set an "overweight" rating for the company in a research report on Wednesday, March 4th. Leerink Partners reduced their price target on shares of Immunome from $37.00 to $33.00 and set an "outperform" rating for the company in a research report on Friday, May 15th. Barclays started coverage on shares of Immunome in a research report on Thursday, May 28th. They issued an "overweight" rating and a $36.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $40.00 target price on shares of Immunome in a research report on Wednesday, May 13th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.17.

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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