Primecap Management Co. CA Acquires Shares of 4,581,431 Immunome, Inc. $IMNM

Primecap Management Co. CA bought a new position in shares of Immunome, Inc. (NASDAQ:IMNM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,581,431 shares of the company’s stock, valued at approximately $97,081,000. Primecap Management Co. CA owned 4.03% of Immunome as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning boosted its position in shares of Immunome by 4.0% during the third quarter. Creative Planning now owns 18,664 shares of the company’s stock valued at $219,000 after purchasing an additional 710 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Immunome by 14.4% in the fourth quarter. Russell Investments Group Ltd. now owns 7,417 shares of the company’s stock worth $159,000 after purchasing an additional 935 shares in the last quarter. Allworth Financial LP bought a new position in Immunome in the second quarter worth $25,000. California State Teachers Retirement System raised its holdings in Immunome by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 67,012 shares of the company’s stock worth $1,439,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Immunome by 46.6% during the first quarter. Assetmark Inc. now owns 4,535 shares of the company’s stock valued at $99,000 after buying an additional 1,442 shares during the period. Institutional investors own 44.58% of the company’s stock.

Wall Street Analysts Forecast Growth

IMNM has been the topic of a number of research reports. Barclays initiated coverage on shares of Immunome in a report on Thursday, May 28th. They set an “overweight” rating and a $36.00 target price on the stock. Wedbush lifted their price target on shares of Immunome from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. HC Wainwright reissued a “buy” rating on shares of Immunome in a research note on Thursday, July 9th. Truist Financial boosted their price objective on shares of Immunome from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Immunome from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Immunome presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Insider Activity at Immunome

In other Immunome news, Director Isaac Barchas sold 11,048 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $27.25, for a total transaction of $301,058.00. Following the completion of the sale, the director directly owned 92,211 shares in the company, valued at approximately $2,512,749.75. This trade represents a 10.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Lechleider sold 55,000 shares of Immunome stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $22.62, for a total transaction of $1,244,100.00. Following the completion of the transaction, the insider directly owned 15,805 shares of the company’s stock, valued at $357,509.10. This trade represents a 77.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 682,310 shares of company stock valued at $15,675,566. 7.21% of the stock is owned by insiders.

Immunome Trading Up 4.9%

Immunome stock opened at $29.39 on Wednesday. Immunome, Inc. has a 12 month low of $8.66 and a 12 month high of $30.06. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -11.62 and a beta of 2.08. The business’s fifty day simple moving average is $23.62 and its two-hundred day simple moving average is $22.35.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results 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). On average, equities research analysts predict that Immunome, Inc. will post -2.38 EPS for the current year.

Immunome 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.