JPMorgan Chase & Co. Acquires 624,045 Shares of Immunome, Inc. (NASDAQ:IMNM)

JPMorgan Chase & Co. grew its stake in Immunome, Inc. (NASDAQ:IMNM) by 2,540.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 648,610 shares of the company’s stock after acquiring an additional 624,045 shares during the period. JPMorgan Chase & Co. owned 0.81% of Immunome worth $6,888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in Immunome by 13.6% during the third quarter. Geode Capital Management LLC now owns 1,207,455 shares of the company’s stock valued at $17,657,000 after purchasing an additional 144,557 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Immunome by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,252 shares of the company’s stock worth $4,856,000 after purchasing an additional 14,775 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in Immunome by 4.1% in the third quarter. Lord Abbett & CO. LLC now owns 450,280 shares of the company’s stock valued at $6,583,000 after acquiring an additional 17,566 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Immunome by 137.1% in the 3rd quarter. Wellington Management Group LLP now owns 140,690 shares of the company’s stock valued at $2,057,000 after acquiring an additional 81,354 shares during the period. Finally, Barclays PLC grew its position in shares of Immunome by 125.9% in the 3rd quarter. Barclays PLC now owns 105,886 shares of the company’s stock valued at $1,547,000 after acquiring an additional 59,016 shares during the period. Institutional investors and hedge funds own 44.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Immunome

In other Immunome news, CEO Clay B. Siegall bought 150,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $7.75 per share, for a total transaction of $1,162,500.00. Following the completion of the transaction, the chief executive officer now directly owns 669,636 shares in the company, valued at approximately $5,189,679. The trade was a 28.87 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Philip Tsai bought 12,300 shares of the stock in a transaction on Monday, March 24th. The shares were acquired 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 of the company’s stock, valued at approximately $280,386. This represents a 58.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 306,400 shares of company stock valued at $2,322,995 over the last three months. 8.60% of the stock is owned by insiders.

Immunome Trading Down 3.1 %

Shares of IMNM opened at $7.17 on Thursday. Immunome, Inc. has a 12 month low of $5.15 and a 12 month high of $18.56. The firm’s 50 day moving average is $8.31 and its 200-day moving average is $10.48. The stock has a market capitalization of $623.44 million, a PE ratio of -0.88 and a beta of 2.05.

Immunome (NASDAQ:IMNM) last issued its quarterly earnings results on Wednesday, March 19th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The company had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.07 million. Immunome had a negative return on equity of 48.63% and a negative net margin of 3,014.59%. Equities research analysts predict that Immunome, Inc. will post -2.21 earnings per share for the current fiscal year.

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.