Immatics N.V. (NASDAQ:IMTX) Given Average Recommendation of “Buy” by Brokerages

Immatics N.V. (NASDAQ:IMTX) has earned a consensus recommendation of “Buy” from the five research firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.67.

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Immatics in a research note on Wednesday, May 28th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Immatics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd.

Immatics Stock Down 4.1%

NASDAQ IMTX opened at $5.61 on Friday. The firm has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $5.37. The company has a market capitalization of $681.90 million, a P/E ratio of -33.00 and a beta of 0.83. Immatics has a 12-month low of $3.30 and a 12-month high of $13.09.

Immatics (NASDAQ:IMTX) last issued its earnings results on Tuesday, May 13th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.04. The company had revenue of $20.12 million during the quarter, compared to analysts’ expectations of $14.92 million. Immatics had a negative net margin of 14.73% and a negative return on equity of 4.52%. Equities analysts expect that Immatics will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in Immatics by 38.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company’s stock worth $66,194,000 after acquiring an additional 4,072,226 shares in the last quarter. Wellington Management Group LLP boosted its stake in Immatics by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company’s stock worth $74,071,000 after acquiring an additional 736,709 shares in the last quarter. Baker BROS. Advisors LP boosted its stake in Immatics by 12.9% during the fourth quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company’s stock worth $51,731,000 after acquiring an additional 832,432 shares in the last quarter. Vestal Point Capital LP boosted its stake in Immatics by 14.6% during the first quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company’s stock worth $32,439,000 after acquiring an additional 917,700 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its stake in Immatics by 38.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock worth $38,496,000 after acquiring an additional 1,509,547 shares in the last quarter. 64.41% of the stock is owned by institutional investors.

Immatics Company Profile

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.