Isaac Barchas Sells 101,050 Shares of Immunome (NASDAQ:IMNM) Stock

Immunome, Inc. (NASDAQ:IMNM) Director Isaac Barchas sold 101,050 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $21.12, for a total transaction of $2,134,176.00. Following the transaction, the director directly owned 308,504 shares of the company’s stock, valued at $6,515,604.48. This represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Isaac Barchas also recently made the following trade(s):

• On Thursday, July 2nd, Isaac Barchas sold 100,000 shares of Immunome stock. The shares were sold at an average price of $22.59, for a total transaction of $2,259,000.00.

Immunome Price Performance

IMNM stock opened at $23.61 on Friday. The company has a market capitalization of $2.67 billion, a P/E ratio of -9.92 and a beta of 2.07. Immunome, Inc. has a 12 month low of $7.96 and a 12 month high of $27.65. The firm’s fifty day simple moving average is $20.96 and its 200-day simple moving average is $21.80.

Immunome (NASDAQ:IMNM) last issued its earnings results on Tuesday, May 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.12. As a group, sell-side analysts forecast that Immunome, Inc. will post -2.06 earnings per share for the current year.

Institutional Trading of Immunome

Hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Immunome by 44.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,821 shares of the company’s stock valued at $316,000 after buying an additional 14,398 shares during the period. Creative Planning purchased a new position in Immunome in the second quarter valued at $167,000. Rhumbline Advisers raised its position in shares of Immunome by 22.0% in the second quarter. Rhumbline Advisers now owns 108,414 shares of the company’s stock worth $1,008,000 after acquiring an additional 19,526 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Immunome by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 280,816 shares of the company’s stock worth $2,612,000 after acquiring an additional 9,686 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Immunome in the second quarter worth about $1,021,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on IMNM. Wedbush reaffirmed an “outperform” rating and set a $31.00 price target on shares of Immunome in a research report on Friday, June 12th. Truist Financial boosted their price objective on Immunome from $36.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 28th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Immunome in a research note on Wednesday, May 13th. Leerink Partners lowered their target price on Immunome from $37.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Finally, Barclays assumed coverage on Immunome in a report on Thursday, May 28th. They set an “overweight” rating and a $36.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Immunome currently has an average rating of “Moderate Buy” and an average price target of $33.17.

About Immunome

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.