The Manufacturers Life Insurance Company Buys Shares of 172,893 Immunome, Inc. $IMNM

Key Points

• The Manufacturers Life Insurance Company acquired 172,893 Immunome shares worth approximately $3.66 million, while institutional investors and hedge funds collectively own 44.58% of IMNM.
• Analysts remain broadly positive, with 12 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $34.64 versus the stock’s $27.07 opening price.
• Immunome shares have risen substantially over the past year, trading near their 12-month high, but the company missed its latest earnings estimate and insiders sold 682,310 shares worth about $15.7 million over the past 90 days.

The Manufacturers Life Insurance Company purchased a new position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 172,893 shares of the company's stock, valued at approximately $3,664,000. The Manufacturers Life Insurance Company owned approximately 0.15% of Immunome as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Immunome in the first quarter valued at $1,507,000. California State Teachers Retirement System increased its position in Immunome by 66.3% during the 1st quarter. California State Teachers Retirement System now owns 111,444 shares of the company's stock worth $2,437,000 after purchasing an additional 44,432 shares in the last quarter. Nan Fung Trinity HK Ltd. raised its stake in Immunome by 20.7% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 714,553 shares of the company's stock valued at $15,349,000 after purchasing an additional 122,450 shares during the last quarter. Bank of America Corp DE raised its stake in Immunome by 285.6% in the 1st quarter. Bank of America Corp DE now owns 781,607 shares of the company's stock valued at $17,094,000 after purchasing an additional 578,890 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Immunome by 23.4% in the 4th quarter. Vanguard Group Inc. now owns 6,038,414 shares of the company's stock valued at $129,705,000 after purchasing an additional 1,144,788 shares in the last quarter. 44.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Immunome

In other news, CFO Max Rosett sold 60,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $18.23, for a total value of $1,093,800.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 on Tuesday, June 30th. The stock was sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the completion of the sale, the director directly owned 308,504 shares of the company's stock, valued at $6,515,604.48. The trade was a 24.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 682,310 shares of company stock worth $15,675,566. 7.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IMNM has been the topic of several analyst reports. Citigroup reaffirmed a "buy" rating on shares of Immunome in a research note on Thursday, July 9th. Leerink Partners cut their price objective 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 began coverage on shares of Immunome in a research note on Thursday, May 28th. They set an "overweight" rating and a $36.00 price objective on the stock. Truist Financial raised their target price on shares of Immunome from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Immunome in a research note on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.64.

Immunome Price Performance

Shares of NASDAQ:IMNM opened at $27.07 on Wednesday. The business has a 50-day moving average of $24.52 and a two-hundred day moving average of $22.48. The firm has a market capitalization of $3.07 billion, a PE ratio of -10.70 and a beta of 2.13. Immunome, Inc. has a 12 month low of $8.66 and a 12 month high of $30.06.

Immunome (NASDAQ:IMNM - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.14). As a group, research analysts anticipate that Immunome, Inc. will post -2.38 earnings per share for the current year.

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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