Velan Capital Investment Management LP Acquires Shares of 153,500 Immunome, Inc. $IMNM

Key Points

• Velan Capital Investment Management LP purchased 153,500 shares of Immunome, Inc. for approximately $1,033,000, which represents 1.1% of their portfolio.
• Immunome's stock has a market cap of $861.75 million and has shown significant volatility with a twelve-month low of $5.15 and a high of $16.73.
• Multiple analysts have rated Immunome positively, with Guggenheim setting a price target of $25.00 and an average price target of $22.50 among eight analysts.

Velan Capital Investment Management LP acquired a new position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 153,500 shares of the company's stock, valued at approximately $1,033,000. Immunome accounts for 1.1% of Velan Capital Investment Management LP's investment portfolio, making the stock its 21st biggest position. Velan Capital Investment Management LP owned about 0.18% of Immunome as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of IMNM. Enavate Sciences GP LLC purchased a new position in Immunome during the 4th quarter worth $36,939,000. Primecap Management Co. CA increased its holdings in shares of Immunome by 1,115.7% in the 1st quarter. Primecap Management Co. CA now owns 3,413,700 shares of the company's stock valued at $22,974,000 after acquiring an additional 3,132,900 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Immunome by 37.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 7,554,594 shares of the company's stock valued at $50,843,000 after acquiring an additional 2,054,640 shares during the period. Vanguard Group Inc. increased its holdings in shares of Immunome by 43.4% in the 1st quarter. Vanguard Group Inc. now owns 4,307,191 shares of the company's stock valued at $28,987,000 after acquiring an additional 1,303,753 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Immunome in the 1st quarter valued at $4,109,000. 44.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IMNM. JPMorgan Chase & Co. cut their price target on Immunome from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Guggenheim reissued a "buy" rating and issued a $25.00 price objective on shares of Immunome in a research report on Monday, August 25th. Evercore ISI started coverage on Immunome in a research report on Friday, August 22nd. They issued an "outperform" rating and a $18.00 price objective for the company. Wall Street Zen raised Immunome from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Wedbush reissued an "outperform" rating and issued a $21.00 price objective on shares of Immunome in a research report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $22.50.

Immunome Price Performance

IMNM traded up $0.70 on Wednesday, reaching $9.98. 393,126 shares of the stock were exchanged, compared to its average volume of 985,074. The company's 50-day moving average price is $9.80 and its 200 day moving average price is $8.84. 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 $868.57 million, a PE ratio of -3.24 and a beta of 1.92.

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

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.