Immatics (NASDAQ:IMTX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Immatics (NASDAQ:IMTX) have been assigned an average recommendation of “Buy” from the four research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of brokerages have recently issued reports on IMTX. Deutsche Bank Aktiengesellschaft started coverage on shares of Immatics in a report on Wednesday. They set a “buy” rating and a $10.00 price objective for the company. Wall Street Zen lowered shares of Immatics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st.

Institutional Trading of Immatics

Several institutional investors have recently bought and sold shares of IMTX. Bank of America Corp DE lifted its stake in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after acquiring an additional 2,231 shares during the period. Virtus ETF Advisers LLC grew its holdings in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after buying an additional 2,479 shares in the last quarter. Pale Fire Capital SE grew its holdings in shares of Immatics by 8.9% in the first quarter. Pale Fire Capital SE now owns 34,270 shares of the company’s stock valued at $155,000 after purchasing an additional 2,808 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Immatics by 24.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company’s stock valued at $163,000 after purchasing an additional 4,477 shares in the last quarter. Finally, Forefront Analytics LLC lifted its position in shares of Immatics by 42.3% during the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after purchasing an additional 4,731 shares during the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

Immatics Price Performance

Shares of IMTX traded up $0.23 during trading hours on Wednesday, hitting $5.16. 60,642 shares of the stock were exchanged, compared to its average volume of 650,624. Immatics has a fifty-two week low of $3.30 and a fifty-two week high of $13.77. The business has a 50-day moving average of $4.51 and a 200-day moving average of $5.64. The firm has a market capitalization of $626.59 million, a P/E ratio of -7.84 and a beta of 0.87.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.04. The company had revenue of $20.12 million during the quarter, compared to analysts’ expectations of $14.92 million. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. As a group, analysts forecast that Immatics will post -0.72 earnings per share for the current fiscal year.

Immatics Company Profile

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.