Renaissance Technologies LLC Buys 304,700 Shares of Immunome, Inc. (NASDAQ:IMNM)

Renaissance Technologies LLC boosted its position in shares of Immunome, Inc. (NASDAQ:IMNM - Free Report) by 2,696.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 316,000 shares of the company's stock after buying an additional 304,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.40% of Immunome worth $3,356,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Immunome by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,565 shares of the company's stock valued at $359,000 after purchasing an additional 1,520 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Immunome by 11.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 19,065 shares of the company's stock valued at $202,000 after purchasing an additional 2,000 shares during the period. Intech Investment Management LLC lifted its stake in shares of Immunome by 26.5% in the 4th quarter. Intech Investment Management LLC now owns 18,961 shares of the company's stock valued at $201,000 after purchasing an additional 3,974 shares during the period. Wellington Management Group LLP lifted its stake in shares of Immunome by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 145,564 shares of the company's stock valued at $1,546,000 after purchasing an additional 4,874 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Immunome in the 4th quarter valued at $75,000. Institutional investors and hedge funds own 44.58% of the company's stock.

Wall Street Analysts Forecast Growth

IMNM has been the topic of a number of analyst reports. Wedbush reissued an "outperform" rating and issued a $33.00 price target on shares of Immunome in a research note on Thursday, March 20th. Guggenheim dropped their price target on Immunome from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Lake Street Capital assumed coverage on Immunome in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $23.00 price target on the stock. Lifesci Capital assumed coverage on Immunome in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $20.00 price target on the stock. Finally, Stephens reissued an "overweight" rating and issued a $30.00 price target on shares of Immunome in a research note on Thursday, March 20th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Immunome currently has a consensus rating of "Buy" and an average price target of $25.14.

Insider Buying and Selling

In other news, CTO Philip Tsai acquired 12,300 shares of Immunome stock in a transaction dated Monday, March 24th. The shares were bought at an average cost 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 $280,386. This trade represents a 58.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall bought 150,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the purchase, the chief executive officer now owns 669,636 shares of the company's stock, valued at $5,189,679. This represents a 28.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 306,400 shares of company stock worth $2,322,995. Company insiders own 8.60% of the company's stock.

Immunome Stock Down 2.2 %

Shares of NASDAQ IMNM traded down $0.19 during trading hours on Tuesday, hitting $8.40. The company had a trading volume of 73,812 shares, compared to its average volume of 903,530. The stock has a market capitalization of $729.95 million, a P/E ratio of -1.03 and a beta of 2.05. Immunome, Inc. has a 1-year low of $5.15 and a 1-year high of $16.81. The firm's 50 day moving average is $7.97 and its 200-day moving average is $10.18.

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