T. Rowe Price Investment Management Inc. Has $50.84 Million Stake in Immunome, Inc. $IMNM

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Immunome, Inc. by 37.4%, owning approximately $50.84 million worth of shares as of the latest disclosure.
• Immunome's earnings report showed a loss of ($0.50) EPS for the quarter, which was better than the consensus estimate of ($0.52), with revenue significantly surpassing analyst expectations.
• Institutional investors currently own 44.58% of Immunome's stock, indicating strong institutional interest in the biotechnology company.

T. Rowe Price Investment Management Inc. lifted its stake in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 37.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,554,594 shares of the company's stock after purchasing an additional 2,054,640 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 8.68% of Immunome worth $50,843,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Immunome by 5.1% during the first quarter. Wellington Management Group LLP now owns 153,011 shares of the company's stock worth $1,030,000 after purchasing an additional 7,447 shares in the last quarter. Freestone Capital Holdings LLC acquired a new position in shares of Immunome during the first quarter worth approximately $415,000. Fox Run Management L.L.C. acquired a new position in shares of Immunome during the first quarter worth approximately $203,000. Nuveen LLC acquired a new position in shares of Immunome during the first quarter worth approximately $1,615,000. Finally, Invesco Ltd. lifted its position in shares of Immunome by 6.4% during the first quarter. Invesco Ltd. now owns 28,379 shares of the company's stock worth $191,000 after purchasing an additional 1,718 shares in the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Immunome Price Performance

Shares of NASDAQ IMNM opened at $10.30 on Friday. The company's 50 day simple moving average is $9.69 and its 200 day simple moving average is $8.91. Immunome, Inc. has a fifty-two week low of $5.15 and a fifty-two week high of $16.73. The firm has a market capitalization of $896.56 million, a P/E ratio of -3.34 and a beta of 1.93.

Immunome (NASDAQ:IMNM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.02. The company had revenue of $4.02 million for the quarter, compared to analyst estimates of $1.03 million. Immunome had a negative net margin of 1,687.08% and a negative return on equity of 76.10%. Sell-side analysts expect that Immunome, Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IMNM has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Immunome from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Immunome from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Evercore ISI initiated coverage on shares of Immunome in a report on Friday. They issued an "outperform" rating and a $18.00 price objective on the stock. Finally, Wedbush restated an "outperform" rating and issued a $21.00 price objective on shares of Immunome in a report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Immunome currently has a consensus rating of "Buy" and a consensus price target of $22.50.

Insiders Place Their Bets

In other news, Director Jean Jacques Bienaime bought 5,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average cost of $9.38 per share, for a total transaction of $46,900.00. Following the completion of the acquisition, the director owned 36,415 shares in the company, valued at approximately $341,572.70. This trade represents a 15.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.69% of the company's stock.

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.

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