Immunome, Inc. (NASDAQ:IMNM) CEO Clay Siegall made a noteworthy investment by purchasing 7,278 shares of the company’s stock on December 19, 2023. The shares were acquired at an average price of $20.48 each, resulting in a total transaction value of $149,053.44. Following this acquisition, Siegall’s holdings in Immunome increased to 860,525 shares, representing a total value of approximately $17.6 million.
This transaction reflects a 0.85% increase in his ownership stake. The purchase was officially reported in a document filed with the Securities and Exchange Commission (SEC), which is publicly accessible on the SEC website.
Market Performance and Company Overview
On the day after the purchase, Immunome’s stock opened at $21.44, marking a 7.5% increase. The company’s current market capitalization stands at $1.97 billion, with a price-to-earnings (PE) ratio of -7.27 and a beta of 2.17. Over the past year, Immunome’s stock has experienced significant fluctuations, with a low of $5.15 and a high of $25.30. The 50-day moving average price is $17.68, while the 200-day moving average is $12.73.
Immunome recently announced its earnings results for the third quarter on November 6, 2023. The company reported an earnings per share (EPS) of ($0.65), falling short of analysts’ expectations, which were set at ($0.57). The firm also reported a negative return on equity of 76.50% and a staggering negative net margin of 1,687.08%. Analysts project that Immunome will post an EPS of ($2.21) for the current fiscal year.
Institutional Investments and Strategic Moves
Recent trading activity indicates a growing interest in Immunome among institutional investors. Notably, Vanguard Group Inc. increased its holdings in the company by 43.4% during the first quarter, now owning 4,307,191 shares valued at approximately $28.99 million after acquiring an additional 1,303,753 shares.
Additionally, Principal Financial Group Inc. raised its position in Immunome by 222.3% in the third quarter, resulting in ownership of 1,104,938 shares worth around $12.94 million. Woodline Partners LP also increased its stake by 69.0%, now holding 1,657,729 shares valued at approximately $11.16 million.
Other institutional movements include new positions taken by Driehaus Capital Management LLC and Nan Fung Trinity HK Ltd., with the latter acquiring a stake worth about $5.1 million. Currently, institutional investors own 44.58% of Immunome’s stock, underscoring robust institutional confidence in the company.
Immunome, Inc. is a clinical-stage biotechnology firm dedicated to developing novel antibody-based therapeutics aimed at treating oncology and infectious diseases. The company utilizes its proprietary platform to identify fully human monoclonal antibodies from patients with active diseases. This approach aims to discover unique antibodies that engage the immune system in innovative ways, potentially leading to more effective and safer therapies.
The company’s lead oncology program, IMM-BCP-01, is currently in early-stage clinical trials targeting breast cancer antigens, representing a significant step in its research efforts. As Immunome continues to navigate the complexities of the biotechnology landscape, the recent stock purchase by its CEO signals confidence in the company’s future prospects.
