Immunome Gains Momentum: Analyst Initiates Coverage with Promising Outlook
Fintel reports that on November 8, 2024, Stephens & Co. initiated coverage of Immunome (NasdaqCM:IMNM) with a Overweight recommendation.
Analysts Predict Significant Growth in Immunome’s Stock
As of October 22, 2024, the average one-year price target for Immunome stands at $32.90 per share, with estimates varying from a low of $23.23 to a high of $39.90. This average suggests an increase of 153.43% from its latest closing price of $12.98 per share.
Fund Sentiment Points to Growing Interest
Currently, 219 funds or institutions report positions in Immunome, marking an increase of 46 owners, or 26.59%, in the last quarter. The average portfolio weight of all funds dedicated to IMNM is 0.09%, which represents a rise of 40.31%. Over the past three months, total shares owned by institutions surged by 30.69%, totaling 51,214K shares. 
The put/call ratio of IMNM is 0.50, indicating a bullish stance among investors.
Redmile Group owns 4,890K shares of Immunome, constituting 8.08% of the company, with no changes from the previous quarter.
EcoR1 Capital also holds 3,879K shares, representing 6.41% ownership, a figure that has remained stable in the last quarter.
T. Rowe Price Investment Management has increased its stake, now holding 3,879K shares—an increase of 60.90% from 1,516K shares in its prior filing. Their portfolio allocation has grown by 29.35% over the previous quarter.
Janus Henderson Group holds 3,164K shares, indicating a 51.37% increase from their previous 1,538K shares, though their overall portfolio allocation has seen a slight reduction of 1.05% last quarter.
Price T Rowe Associates has decreased its stake from 2,246K shares to 2,021K shares, representing an 11.11% decline and a substantial portfolio allocation decrease of 56.92% over the last three months.
Understanding Immunome’s Mission
Immunome Background Information
(This description is provided by the company.)
Immunome is a biopharmaceutical company leveraging a proprietary human memory B cell platform to discover and develop unique antibody therapeutics. These novel treatments aim to transform the approach to diseases, primarily focusing on oncology and infectious diseases, including COVID-19. The company’s advanced discovery engine targets therapeutic antibodies sourced from memory B cells of patients, whose immune systems have successfully fought off disease.
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This story originally appeared on Fintel.
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