Chardan Capital Reaffirms “Buy” Rating for Immatics (NASDAQ:IMTX)

Immatics (NASDAQ:IMTX)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a report released on Tuesday,Benzinga reports. They presently have a $25.00 price target on the stock. Chardan Capital’s price objective indicates a potential upside of 133.64% from the company’s current price.

Several other brokerages also recently issued reports on IMTX. Mizuho set a $25.00 price objective on Immatics in a research report on Thursday, February 19th. TD Cowen began coverage on Immatics in a research note on Tuesday, April 28th. They issued a “buy” rating for the company. Wall Street Zen lowered Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group began coverage on Immatics in a research note on Monday, March 16th. They issued a “buy” rating and a $18.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Immatics Stock Up 0.8%

NASDAQ:IMTX traded up $0.08 during midday trading on Tuesday, reaching $10.70. The stock had a trading volume of 659,208 shares, compared to its average volume of 453,334. The firm has a fifty day simple moving average of $10.49 and a two-hundred day simple moving average of $10.17. Immatics has a 12-month low of $4.90 and a 12-month high of $12.41. The stock has a market cap of $1.43 billion, a P/E ratio of -5.38 and a beta of 1.31.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. The firm had revenue of $8.81 million during the quarter, compared to analysts’ expectations of $9.79 million. On average, sell-side analysts anticipate that Immatics will post -1.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IMTX. Bank of America Corp DE lifted its holdings in shares of Immatics by 166.0% in the 4th 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 last quarter. Quarry LP bought a new stake in shares of Immatics in the 4th quarter worth approximately $84,000. Insigneo Advisory Services LLC bought a new stake in shares of Immatics in the 3rd quarter worth approximately $103,000. Engineers Gate Manager LP bought a new stake in shares of Immatics in the 2nd quarter worth approximately $124,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Immatics in the 4th quarter worth approximately $129,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.