The cluster is proportional to market cap (0.22%) and CMO sales aligned with derivative exercise are typical liquidity-driven events — not a strong bearish signal. Watch for any upcoming IMNM news (clinical data, financing) that might have motivated the accelerated selling by the Director. The stock's poor T+20 historical drift suggests avoiding directional bets on this insider data alone.
Price Chart
Executive Summary
Two insiders at Immunome — Director Barchas and CMO Lechleider — collectively sold ~$6.0M of stock over the past week, with the largest executive sale occurring just after derivative exercises. At a $2.7B market cap, these sales represent ~0.22% of market cap, a modest but notable cluster. Insider selling alone is a weak directional signal per the literature, but the historical calibration on this issuer has been poor (38% win-rate at T+20, avg -4.1%), warranting a conservative read.
Key Financial Metrics
Key Facts
- Director Isaac Barchas sold ~$4.7M total across three trades at $21.95–$24.20 per share (2026-07-02 through 2026-07-07).
- CMO Robert Lechleider exercised 55,000 derivative shares at $0 cost (tax-free) and immediately sold ~55,000 shares for ~$1.24M in open-market trades at $21.95–$23.44 per share (2026-07-02).
- Total cluster open-market sales: ~$5.9M (~0.22% of $2.7B market cap).
- Prior 30d insider activity shows 8 sells totaling $8.0M — the recent cluster extends an ongoing selling pattern.
- Historical T+20 win rate on prior IMNM reports is 38% with avg -4.1% return, signaling downward drift not necessarily triggered by these filings.
Financial Impact
~$5.9M in open-market sales, ~0.22% of $2.7B market cap — modest inside selling.
Risk Factors
- Insider selling may increase if a material adverse event is pending.
- Historical trend shows persistent downward drift in IMNM (avg -4.1% T+20) — cluster sells could coincide with further weakness.
- Director Barchas' $4.7M sell is the largest single-insider cash-out and may signal reduced conviction at current levels.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-IMNM-1783465406249 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 1d ago | ANALYST-UPGRADE | $21.58 awaiting T+5 | awaiting T+5 | — | $20.97 (−2.85%) |
Sep 21, 2026 11d ago | ANALYST-UPGRADE | $25.07 $21.68 | ▼ −13.52% | ▼ −13.24% | $20.97 (−16.37%) |
Aug 12, 2026 7w ago | Insider Cluster | $26.42 $28.08 | ▲ +6.28% | ▲ +8.25% | $20.97 (−20.65%) |
Aug 10, 2026 7w ago | Insider Cluster | $26.25 $27.56 | ▲ +4.99% | ▲ +5.39% | $20.97 (−20.13%) |
Jul 9, 2026 12w ago | Insider Cluster | $23.35 $22.20 | ▼ −4.93% | ▼ −4.36% | $20.97 (−10.21%) |
Jul 7, 2026 12w ago | Insider Cluster | $24.01 $22.59 | ▼ −5.91% | ▼ −6.78% | $20.97 (−12.68%) |
Jul 7, 2026 12w ago | Insider Cluster | $24.01 $22.59 | ▼ −5.91% | ▼ −6.78% | $20.97 (−12.68%) |
Jul 3, 2026 13w ago | Insider Cluster | $23.61 $24.17 | ▼ −2.37% | ▼ −1.44% | $20.97 (+11.20%) |
May 28, 2026 18w ago | ANALYST-UPGRADE | $22.54 $19.81 | ▼ −12.11% | ▼ −12.06% | $20.97 (−6.99%) |
May 12, 2026 20w ago | 8-K | $22.20 $19.66 | ▼ −11.44% | ▼ −10.28% | $20.97 (−5.56%) |
US Market Status
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