Redmile Group LLC Has $120.67 Million Position in Immunome, Inc. (NASDAQ:IMNM)

Redmile Group LLC boosted its position in Immunome, Inc. (NASDAQ:IMNM) by 26.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,889,554 shares of the company’s stock after acquiring an additional 1,010,139 shares during the period. Immunome accounts for approximately 4.4% of Redmile Group LLC’s portfolio, making the stock its 3rd largest holding. Redmile Group LLC owned approximately 0.08% of Immunome worth $120,674,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in shares of Immunome during the fourth quarter worth $656,000. Emfo LLC purchased a new stake in Immunome during the 4th quarter worth about $633,000. Jump Financial LLC bought a new position in Immunome in the 4th quarter worth about $172,000. Mayo Clinic purchased a new position in Immunome during the 4th quarter valued at about $1,161,000. Finally, Avidity Partners Management LP purchased a new position in Immunome during the 4th quarter valued at about $14,268,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Immunome Trading Down 4.5 %

Shares of NASDAQ:IMNM traded down $0.75 during trading on Monday, reaching $15.76. The company had a trading volume of 837,756 shares, compared to its average volume of 827,826. The company has a fifty day moving average of $13.85 and a two-hundred day moving average of $17.65. The stock has a market capitalization of $945.13 million, a P/E ratio of -2.09 and a beta of 1.79. Immunome, Inc. has a 12 month low of $6.13 and a 12 month high of $30.96.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, May 14th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.46. Immunome had a negative return on equity of 37.33% and a negative net margin of 1,829.44%. The business had revenue of $1.03 million for the quarter, compared to analysts’ expectations of $4.00 million. As a group, equities research analysts predict that Immunome, Inc. will post -1.45 earnings per share for the current year.

Insider Buying and Selling

In other Immunome news, Director Jean Jacques Bienaime purchased 2,000 shares of Immunome stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $13.57 per share, for a total transaction of $27,140.00. Following the completion of the transaction, the director now directly owns 9,615 shares of the company’s stock, valued at $130,475.55. The purchase was disclosed in a filing with the SEC, which is available at this link. 8.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IMNM shares. Guggenheim assumed coverage on shares of Immunome in a research report on Monday, April 15th. They issued a “buy” rating and a $35.00 price objective for the company. Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Immunome in a research report on Thursday. JPMorgan Chase & Co. began coverage on shares of Immunome in a report on Tuesday, April 30th. They issued an “overweight” rating and a $24.00 price target on the stock. Finally, Piper Sandler initiated coverage on Immunome in a research note on Friday, May 31st. They set an “overweight” rating and a $27.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $29.80.

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.