Immatics (NASDAQ:IMTX) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Immatics (NASDAQ:IMTX) from a hold rating to a sell rating in a report published on Saturday.

Several other analysts have also commented on IMTX. Jefferies Financial Group started coverage on shares of Immatics in a research report on Monday, March 16th. They issued a “buy” rating and a $18.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research report on Thursday, January 22nd. TD Cowen started coverage on shares of Immatics in a research report on Tuesday. They issued a “buy” rating on the stock. Finally, Mizuho set a $25.00 price objective on shares of Immatics in a research report on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Immatics Stock Performance

Immatics stock opened at $10.79 on Friday. Immatics has a fifty-two week low of $3.94 and a fifty-two week high of $12.41. The stock has a market cap of $1.45 billion, a PE ratio of -5.86 and a beta of 1.31. The firm’s 50-day simple moving average is $10.29 and its 200 day simple moving average is $10.11.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.14. Immatics had a negative net margin of 411.90% and a negative return on equity of 41.81%. The business had revenue of $23.18 million for the quarter, compared to analysts’ expectations of $12.18 million. As a group, analysts predict that Immatics will post -1.49 EPS for the current fiscal year.

Institutional Trading of Immatics

Several hedge funds and other institutional investors have recently modified their holdings of IMTX. Bank of America Corp DE raised its position in shares of Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares during the period. JPMorgan Chase & Co. raised its position in shares of Immatics by 31.5% in the second quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company’s stock valued at $1,069,000 after purchasing an additional 47,590 shares during the period. BNP Paribas Financial Markets raised its position in shares of Immatics by 105.2% in the second quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company’s stock valued at $420,000 after purchasing an additional 40,058 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Immatics in the second quarter valued at approximately $124,000. Finally, Sofinnova Investments Inc. raised its position in shares of Immatics by 44.1% in the second quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock valued at $12,054,000 after purchasing an additional 686,224 shares during the period. Institutional investors own 64.41% of the company’s stock.

About Immatics

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.