JPMorgan Chase & Co. Increases Holdings in Immunome, Inc. (NASDAQ:IMNM)

JPMorgan Chase & Co. grew its holdings in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 2,540.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 648,610 shares of the company's stock after purchasing an additional 624,045 shares during the quarter. JPMorgan Chase & Co. owned about 0.81% of Immunome worth $6,888,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in Immunome in the 4th quarter worth approximately $75,000. Virtu Financial LLC purchased a new stake in shares of Immunome during the fourth quarter worth $486,000. Teacher Retirement System of Texas bought a new position in shares of Immunome in the fourth quarter worth $124,000. Intech Investment Management LLC boosted its holdings in shares of Immunome by 26.5% in the fourth quarter. Intech Investment Management LLC now owns 18,961 shares of the company's stock worth $201,000 after acquiring an additional 3,974 shares during the period. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Immunome in the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 44.58% of the company's stock.

Immunome Stock Performance

IMNM traded up $0.19 during midday trading on Tuesday, hitting $8.19. The stock had a trading volume of 792,507 shares, compared to its average volume of 901,231. Immunome, Inc. has a 1 year low of $5.15 and a 1 year high of $16.81. The business has a fifty day moving average of $8.10 and a 200 day moving average of $10.30. The company has a market cap of $712.13 million, a P/E ratio of -1.01 and a beta of 2.05.

Immunome (NASDAQ:IMNM - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.16). Immunome had a negative net margin of 3,014.59% and a negative return on equity of 48.63%. The business had revenue of $2.74 million during the quarter, compared to analysts' expectations of $3.07 million. On average, equities research analysts anticipate that Immunome, Inc. will post -2.21 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Philip Tsai bought 12,300 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $8.42 per share, with a total value of $103,566.00. Following the purchase, the chief technology officer now owns 33,300 shares in the company, valued at approximately $280,386. The trade was a 58.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Clay B. Siegall bought 150,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $7.75 per share, with a total value of $1,162,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 669,636 shares in the company, valued at $5,189,679. This trade represents a 28.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 306,400 shares of company stock valued at $2,322,995 over the last three months. Insiders own 8.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IMNM. Lake Street Capital initiated coverage on Immunome in a report on Wednesday, April 2nd. They set a "buy" rating and a $23.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and issued a $33.00 price target on shares of Immunome in a report on Thursday, March 20th. Stephens reissued an "overweight" rating and set a $30.00 price objective on shares of Immunome in a research note on Thursday, March 20th. Guggenheim decreased their target price on Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, Lifesci Capital started coverage on shares of Immunome in a research report on Tuesday, March 11th. They set an "outperform" rating and a $20.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $25.14.

Immunome Company Profile

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.