Pivotal bioVenture Partners Investment Advisor LLC Invests $5.88 Million in Immunome, Inc. $IMNM

Pivotal bioVenture Partners Investment Advisor LLC bought a new position in shares of Immunome, Inc. (NASDAQ:IMNM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 502,512 shares of the company’s stock, valued at approximately $5,884,000. Immunome accounts for about 3.4% of Pivotal bioVenture Partners Investment Advisor LLC’s holdings, making the stock its 6th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new position in Immunome in the third quarter worth approximately $39,000. BNP Paribas Financial Markets grew its holdings in Immunome by 81.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,464 shares of the company’s stock worth $60,000 after acquiring an additional 2,909 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Immunome by 121.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,938 shares of the company’s stock valued at $65,000 after purchasing an additional 3,802 shares during the last quarter. BIT Capital GmbH purchased a new stake in shares of Immunome in the 3rd quarter valued at approximately $69,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Immunome in the 3rd quarter valued at $76,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IMNM. Evercore lifted their price objective on shares of Immunome from $18.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Wall Street Zen lowered Immunome from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. HC Wainwright started coverage on Immunome in a research note on Thursday, February 12th. They issued a “buy” rating and a $40.00 price target on the stock. Guggenheim lifted their price target on Immunome from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Craig Hallum upped their price objective on Immunome from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.45.

Immunome Trading Down 3.0%

IMNM stock opened at $20.36 on Friday. The stock has a market cap of $2.30 billion, a P/E ratio of -8.41 and a beta of 2.12. Immunome, Inc. has a twelve month low of $5.15 and a twelve month high of $27.65. The company’s 50 day moving average is $22.73 and its two-hundred day moving average is $18.06.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.10). Immunome had a negative net margin of 1,687.08% and a negative return on equity of 57.61%. On average, equities research analysts predict that Immunome, Inc. will post -2.21 earnings per share for the current year.

Insider Activity at Immunome

In other news, Director Isaac Barchas sold 383,200 shares of Immunome stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $21.74, for a total transaction of $8,330,768.00. Following the sale, the director owned 2,031,181 shares in the company, valued at approximately $44,157,874.94. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clay B. Siegall bought 4,729 shares of Immunome stock in a transaction dated Tuesday, December 30th. The stock was purchased at an average cost of $21.15 per share, with a total value of $100,018.35. Following the completion of the acquisition, the chief executive officer directly owned 665,254 shares in the company, valued at approximately $14,070,122.10. The trade was a 0.72% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 69,518 shares of company stock valued at $1,475,508 over the last ninety days. Insiders own 7.69% of the company’s stock.

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.