Immatics N.V. (NASDAQ:IMTX) Stock Has Average Target Price of $20.60 According to Brokerages

Shares of Immatics N.V. (NASDAQ:IMTX) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.60.

A number of analysts have recently issued reports on IMTX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a report on Tuesday, August 25th. Finally, Wall Street Zen raised shares of Immatics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th.

Insiders Place Their Bets

In other Immatics news, Director Perceptive Advisors Llc bought 863,060 shares of the stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in 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 purchasing an additional 11,848 shares in the last quarter. Doliver Advisors LP purchased a new stake in Immatics during the 3rd quarter worth approximately $263,000. Engineers Gate Manager LP increased its holdings in Immatics by 26.4% during the 2nd quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock worth $515,000 after purchasing an additional 10,638 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Immatics in the 1st quarter valued at approximately $742,000. Finally, Ishara Investments LP acquired a new position in shares of Immatics in the 4th quarter valued at approximately $840,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Stock Performance

IMTX stock opened at $7.43 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of -3.99 and a beta of 1.36. Immatics has a 1 year low of $7.02 and a 1 year high of $12.41. The stock has a 50-day simple moving average of $8.91 and a 200-day simple moving average of $9.75.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). The company had revenue of $10.44 million for the quarter, compared to analyst estimates of $12.42 million. Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%. On average, equities research analysts predict that Immatics will post -2.00 EPS for the current year.

About Immatics

Immatics N.V. (NASDAQ: IMTX) is a biotechnology company focused on developing T cell receptor (TCR)-based therapies for the treatment of cancer. The company identifies cancer targets and designs treatments intended to direct a patient’s immune system toward tumor cells, including solid tumors that may be difficult to address with conventional immunotherapies.

Immatics’ technology platforms support several therapeutic approaches, including TCR-engineered T-cell therapies and TCR-based bispecific molecules that can engage both cancer targets and T cells.