Immatics (NASDAQ:IMTX) Sees Large Volume Increase – Time to Buy?

Immatics N.V. (NASDAQ:IMTX) shares saw strong trading volume on Thursday . Approximately 1,505,059 shares were traded during trading, an increase of 215% from the previous session’s volume of 477,598 shares.The stock last traded at $8.31 and had previously closed at $8.60.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Immatics Trading Down 5.0%

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.41 and a beta of 1.33. The firm has a 50 day moving average price of $9.17 and a two-hundred day moving average price of $9.90.

Immatics (NASDAQ:IMTX) last posted its earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%.The business had revenue of $10.44 million for the quarter, compared to analyst estimates of $12.42 million. As a group, research analysts forecast that Immatics N.V. will post -2 earnings per share for the current year.

Insider Activity

In other Immatics news, Director Perceptive Advisors Llc acquired 863,060 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the completion of the transaction, the director directly owned 11,246,516 shares of the company’s stock, valued at approximately $97,732,224.04. The trade was a 8.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is owned by insiders.

Institutional Trading of Immatics

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its holdings in Immatics by 0.7% during the 2nd quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock worth $1,737,000 after buying an additional 1,110 shares during the last quarter. Engineers Gate Manager LP increased its holdings in shares of Immatics by 26.4% in the 2nd quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock valued at $515,000 after acquiring an additional 10,638 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Immatics by 5.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock valued at $16,693,000 after acquiring an additional 85,960 shares during the last quarter. Bank of America Corp DE raised its position in shares of Immatics by 87.5% during the 1st quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock valued at $250,000 after acquiring an additional 11,848 shares in the last quarter. Finally, SummitTX Capital L.P. raised its position in shares of Immatics by 56.1% during the 1st quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock valued at $1,487,000 after acquiring an additional 54,328 shares in the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

Immatics Company Profile

Immatics N.V. is a biopharmaceutical company focused on developing T cell receptor (TCR)-based therapies for cancer. The company aims to identify cancer targets that are presented on the surface of tumor cells and develop treatments that enable T cells to recognize and attack those cells, including targets that may be difficult to address with conventional antibody-based medicines.

Immatics’ technology platforms support two primary approaches: TCR-engineered T-cell therapies, known as TCR-T, and TCR-based bispecific molecules designed to direct patients’ T cells toward tumor cells.