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Jean Jacques Bienaime, a director at Immunome Inc . (NASDAQ:IMNM), recently acquired 7,000 shares of the company’s common stock, as disclosed in a recent SEC filing. The shares were purchased on March 24 at a weighted average price of $8.21 per share, with transaction prices ranging from $8.16 to $8.42. The $608 million market cap company’s stock has experienced significant volatility, with shares down over 70% in the past year according to InvestingPro data. This acquisition brings Bienaime’s total holdings to 23,615 shares. The purchase, valued at approximately $57,470, reflects Bienaime’s increased stake in the pharmaceutical company. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with 8 additional exclusive insights available to subscribers. The company maintains strong liquidity, with a current ratio of 4.08, though it faces near-term profitability challenges.
In other recent news, Immunome Inc. reported its fourth-quarter 2024 earnings, which were consistent with prior disclosures. Guggenheim Securities subsequently adjusted its outlook on the company, reducing the price target from $35.00 to $25.00 while maintaining a Buy rating. This revision considers recent financing activities, which caused stock dilution, although partially offset by increased success probabilities for their clinical program, IM-1021. Additionally, Immunome announced a public offering of common stock, priced at $7.75 per share, aiming to raise approximately $150 million. This offering is managed by J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities, with funds intended to support ongoing research and development efforts.
The company also disclosed preliminary financial estimates, highlighting approximately $217.3 million in cash and equivalents as of December 31, 2024. Immunome’s active pipeline includes varegacestat in a Phase 3 trial and the initiation of a Phase 1 trial for IM-1021. Furthermore, Immunome’s CFO, Max Rosett, received a relocation package including $400,000 in bonuses to facilitate his move closer to the company’s headquarters. These developments reflect Immunome’s strategic focus on advancing its clinical programs and strengthening its executive team.
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