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

Shares of Immatics N.V. (NASDAQ:IMTX) have been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $18.80.

Several brokerages have recently commented on IMTX. Mizuho boosted their price target on Immatics from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Leerink Partners restated an “outperform” rating and issued a $17.00 price target on shares of Immatics in a research report on Thursday, December 4th. Guggenheim lifted their price target on Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Chardan Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Immatics in a research note on Monday, November 24th. Finally, Zacks Research upgraded shares of Immatics from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th.

Immatics Stock Performance

Shares of Immatics stock opened at $9.84 on Thursday. Immatics has a one year low of $3.30 and a one year high of $12.41. The company has a market cap of $1.20 billion, a P/E ratio of -9.65 and a beta of 1.36. The firm has a fifty day moving average of $10.10 and a two-hundred day moving average of $8.07.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings results on Monday, November 17th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.01. The business had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $12.53 million. Immatics had a negative return on equity of 24.16% and a negative net margin of 146.13%. As a group, equities analysts predict that Immatics will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new stake in Immatics in the 3rd quarter valued at approximately $2,556,000. Verition Fund Management LLC acquired a new position in shares of Immatics in the third quarter worth $385,000. Vestal Point Capital LP lifted its position in shares of Immatics by 1.6% in the third quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock valued at $54,102,000 after acquiring an additional 100,000 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Immatics by 4,991.1% during the third quarter. Millennium Management LLC now owns 721,866 shares of the company’s stock valued at $6,150,000 after acquiring an additional 707,687 shares during the last quarter. Finally, Baker BROS. Advisors LP increased its position in Immatics by 18.9% during the 3rd quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after purchasing an additional 1,925,193 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.