Charles Schwab Investment Management Inc. Grows Position in Immunome, Inc. (NASDAQ:IMNM)

Charles Schwab Investment Management Inc. raised its stake in Immunome, Inc. (NASDAQ:IMNM - Free Report) by 217.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 442,477 shares of the company's stock after purchasing an additional 302,916 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.74% of Immunome worth $6,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IMNM. Quest Partners LLC bought a new stake in Immunome in the second quarter valued at approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Immunome in the second quarter valued at approximately $97,000. Arizona State Retirement System lifted its position in Immunome by 9.2% in the second quarter. Arizona State Retirement System now owns 10,862 shares of the company's stock valued at $131,000 after purchasing an additional 918 shares during the last quarter. AQR Capital Management LLC lifted its position in Immunome by 34.6% in the second quarter. AQR Capital Management LLC now owns 16,064 shares of the company's stock valued at $194,000 after purchasing an additional 4,129 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Immunome in the second quarter valued at approximately $206,000. Institutional investors own 44.58% of the company's stock.

Immunome Price Performance

IMNM stock traded down $0.87 during midday trading on Thursday, hitting $13.17. The stock had a trading volume of 369,282 shares, compared to its average volume of 778,367. The firm has a market cap of $822.03 million, a price-to-earnings ratio of -1.73 and a beta of 1.83. The business has a 50-day moving average of $12.24 and a two-hundred day moving average of $13.47. Immunome, Inc. has a 52-week low of $6.93 and a 52-week high of $30.96.

Insider Buying and Selling

In other news, CFO Max Rosett sold 14,380 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.01, for a total transaction of $230,223.80. Following the completion of the transaction, the chief financial officer now directly owns 47,476 shares in the company, valued at $760,090.76. This trade represents a 23.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clay B. Siegall purchased 66,057 shares of Immunome stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of $9.54 per share, with a total value of $630,183.78. Following the completion of the acquisition, the chief executive officer now directly owns 485,693 shares of the company's stock, valued at approximately $4,633,511.22. This represents a 15.74 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 102,862 shares of company stock valued at $978,045 over the last ninety days. Company insiders own 8.60% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on IMNM. Stephens initiated coverage on Immunome in a research report on Friday, November 8th. They issued an "overweight" rating and a $30.00 price objective for the company. Piper Sandler reduced their target price on Immunome from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Finally, Wedbush reissued an "outperform" rating and set a $33.00 target price on shares of Immunome in a research note on Friday, October 25th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Immunome presently has a consensus rating of "Buy" and a consensus price target of $28.83.

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.