Readystate Asset Management LP Sells 541,348 Shares of Immunome, Inc. $IMNM

Readystate Asset Management LP reduced its stake in shares of Immunome, Inc. (NASDAQ:IMNM) by 29.4% in the 1st quarter, Holdings Channel reports. The firm owned 1,301,862 shares of the company’s stock after selling 541,348 shares during the quarter. Immunome accounts for 1.3% of Readystate Asset Management LP’s investment portfolio, making the stock its 14th largest holding. Readystate Asset Management LP’s holdings in Immunome were worth $28,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its stake in shares of Immunome by 59.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,421,987 shares of the company’s stock valued at $288,305,000 after buying an additional 5,003,824 shares during the period. Vanguard Group Inc. raised its position in shares of Immunome by 23.4% during the fourth quarter. Vanguard Group Inc. now owns 6,038,414 shares of the company’s stock worth $129,705,000 after acquiring an additional 1,144,788 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Immunome by 55.2% in the fourth quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock worth $100,643,000 after acquiring an additional 1,667,432 shares during the period. State Street Corp boosted its holdings in Immunome by 37.9% in the fourth quarter. State Street Corp now owns 3,868,000 shares of the company’s stock valued at $83,085,000 after acquiring an additional 1,064,027 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Immunome by 8,659.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,855,747 shares of the company’s stock valued at $61,341,000 after purchasing an additional 2,823,144 shares during the period. 44.58% of the stock is owned by institutional investors and hedge funds.

Immunome Trading Up 2.8%

NASDAQ IMNM opened at $23.22 on Wednesday. The company has a market cap of $2.63 billion, a P/E ratio of -9.76 and a beta of 2.07. The company has a fifty day simple moving average of $21.15 and a 200 day simple moving average of $22.00. Immunome, Inc. has a 12-month low of $8.66 and a 12-month high of $27.65.

Immunome (NASDAQ:IMNM) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.12. Sell-side analysts predict that Immunome, Inc. will post -2.06 EPS for the current year.

Insiders Place Their Bets

In other Immunome news, insider Kinney Horn sold 1,092 shares of Immunome stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $25.00, for a total transaction of $27,300.00. Following the completion of the transaction, the insider owned 1,092 shares in the company, valued at approximately $27,300. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Barchas sold 101,050 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $21.12, for a total value of $2,134,176.00. Following the sale, the director directly owned 308,504 shares of the company’s stock, valued at $6,515,604.48. This represents a 24.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 472,142 shares of company stock worth $10,262,648 in the last 90 days. Company insiders own 7.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IMNM shares. Citigroup restated a “buy” rating on shares of Immunome in a research report on Thursday, July 9th. Barclays initiated coverage on shares of Immunome in a report on Thursday, May 28th. They issued an “overweight” rating and a $36.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $31.00 price target on shares of Immunome in a report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research report on Friday, July 17th. Finally, Truist Financial upped their target price on Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.

Immunome Company Profile

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.