Immatics (NASDAQ:IMTX) Price Target Raised to $23.00

Immatics (NASDAQ:IMTX) had its price objective raised by Mizuho from $19.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of Immatics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research note on Wednesday, October 8th. Finally, Guggenheim boosted their price objective on shares of Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.33.

Immatics Stock Performance

Shares of IMTX opened at $10.20 on Wednesday. The stock has a fifty day moving average price of $9.24 and a two-hundred day moving average price of $6.93. Immatics has a 52-week low of $3.30 and a 52-week high of $11.25. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -10.00 and a beta of 1.24.

Immatics (NASDAQ:IMTX) last announced its earnings results on Monday, November 17th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. Immatics had a negative return on equity of 24.16% and a negative net margin of 146.13%.The company had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $12.53 million. As a group, research analysts predict that Immatics will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after purchasing an additional 2,231 shares during the period. XTX Topco Ltd acquired a new position in shares of Immatics during the 1st quarter worth about $573,000. Russell Investments Group Ltd. bought a new stake in shares of Immatics in the 1st quarter valued at about $430,000. Aberdeen Group plc increased its stake in shares of Immatics by 107.1% in the 1st quarter. Aberdeen Group plc now owns 719,586 shares of the company’s stock valued at $3,245,000 after acquiring an additional 372,207 shares during the last quarter. Finally, Algert Global LLC raised its position in shares of Immatics by 20.6% in the 1st quarter. Algert Global LLC now owns 70,668 shares of the company’s stock valued at $319,000 after acquiring an additional 12,072 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

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.