Sofinnova Investments Inc. Acquires 1,182,426 Shares of Immunome, Inc. $IMNM

Sofinnova Investments Inc. grew its holdings in shares of Immunome, Inc. (NASDAQ:IMNM) by 271.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,618,477 shares of the company’s stock after acquiring an additional 1,182,426 shares during the period. Immunome comprises approximately 1.4% of Sofinnova Investments Inc.’s holdings, making the stock its 22nd largest position. Sofinnova Investments Inc.’s holdings in Immunome were worth $34,765,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Immunome by 23.4% during the 4th quarter. Vanguard Group Inc. now owns 6,038,414 shares of the company’s stock valued at $129,705,000 after acquiring an additional 1,144,788 shares during the period. Primecap Management Co. CA grew its position in shares of Immunome by 55.2% during the 4th quarter. Primecap Management Co. CA now owns 4,685,441 shares of the company’s stock valued at $100,643,000 after acquiring an additional 1,667,432 shares during the period. State Street Corp grew its position in shares of Immunome by 37.9% during the 4th 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 period. JPMorgan Chase & Co. grew its position in shares of 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 acquiring an additional 2,823,144 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Immunome by 24.6% during the 4th quarter. Geode Capital Management LLC now owns 2,361,381 shares of the company’s stock valued at $50,731,000 after acquiring an additional 466,806 shares during the period. Institutional investors 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Immunome in a research report on Tuesday, April 21st. Barclays assumed coverage on shares of Immunome in a research note on Thursday, May 28th. They set an “overweight” rating and a $36.00 target price on the stock. Truist Financial lifted their target price on shares of Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Craig Hallum lifted their target price on shares of Immunome from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Leerink Partners lowered their target price on shares of Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Immunome has a consensus rating of “Moderate Buy” and an average target price of $33.17.

Insider Activity at Immunome

In other Immunome news, CFO Max Rosett sold 65,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $21.92, for a total value of $1,424,800.00. Following the sale, the chief financial officer owned 54,037 shares in the company, valued at $1,184,491.04. The trade was a 54.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jean Jacques Bienaime purchased 10,500 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was bought at an average price of $19.45 per share, for a total transaction of $204,225.00. Following the purchase, the director owned 43,415 shares in the company, valued at approximately $844,421.75. This represents a 31.90% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 139,438 shares of company stock worth $2,964,664 in the last quarter. 7.21% of the stock is owned by company insiders.

Immunome Stock Performance

IMNM opened at $18.07 on Tuesday. Immunome, Inc. has a fifty-two week low of $7.96 and a fifty-two week high of $27.65. The firm’s fifty day moving average is $21.70 and its 200 day moving average is $21.71. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -7.59 and a beta of 2.04.

Immunome (NASDAQ:IMNM) last released its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.12. On average, equities research analysts predict that Immunome, Inc. will post -2.06 earnings per share 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.