Immunome’s chief medical officer Robert Lechleider buys $149,799 in stock
In a recent transaction, Robert Lechleider, the Chief Medical (TASE:) Officer of Immunome Inc . (NASDAQ:), purchased 15,805 shares of the company’s common stock. The shares were acquired at a price of $9.478 each, totaling approximately $149,799. This purchase increases Lechleider’s direct ownership to 15,805 shares. The transaction was executed on November 21, 2024, as reported in a filing with the Securities and Exchange Commission.
In other recent news, Immunome Inc. reported significant advancements in its drug development pipeline, with the phase 3 RINGSIDE trial of AL102 progressing as planned. The company also confirmed its plans to file Investigational New Drug applications for IM-021 and IM-3050 in the first half of 2025. Additionally, Immunome has undergone a merger, further bolstering its pharmaceutical pursuits.
Piper Sandler maintained a positive stance on Immunome, maintaining an Overweight rating with a $21 target. Analysts from TD Cowen and JPMorgan also maintain positive ratings, expressing optimism for the potential of AL102.
Immunome has made key changes to its leadership team, appointing Roee Shahar as Executive Vice President, Commercial, and promoting Max Rosett to Chief Financial Officer. The company also launched its 2024 Inducement Plan, reserving 2 million shares of common stock to attract new talent. Lastly, Immunome entered into a global exclusive license agreement with Nectin Therapeutics, granting the company the rights to develop, manufacture, and commercialize products derived from a series of monoclonal antibodies.
InvestingPro Insights
The recent insider purchase by Immunome Inc.’s Chief Medical Officer comes at a time when the company’s financial metrics paint a complex picture. According to InvestingPro data, Immunome has a market capitalization of $612.93 million, reflecting its position in the biotech sector. Despite the CMO’s confidence, as demonstrated by his substantial stock acquisition, the company faces some financial challenges.
InvestingPro Tips highlight that Immunome is quickly burning through cash and is not profitable over the last twelve months. This aligns with the negative gross profit of $81.0 million reported for the last twelve months as of Q3 2024. The company’s revenue growth has also been negative, with a 62% decline over the same period.
On a positive note, Immunome holds more cash than debt on its balance sheet, which could provide some financial flexibility as it navigates its current challenges. Additionally, liquid assets exceed short-term obligations, potentially mitigating immediate financial risks.
The stock’s performance has been volatile, with a 22.75% price return over the past year, despite a recent 18.91% decline in the last month. This volatility may present opportunities for investors who share the CMO’s apparent optimism about the company’s future prospects.
For readers interested in a deeper analysis, InvestingPro offers 11 additional tips for Immunome, providing a more comprehensive view of the company’s financial health and market position.
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