Immatics (NASDAQ:IMTX) Downgraded to Sell Rating by Wall Street Zen

Immatics (NASDAQ:IMTX) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Other equities research analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a research report on Wednesday, October 8th. Chardan Capital restated a “buy” rating and set a $25.00 target price on shares of Immatics in a report on Monday, November 24th. Mizuho raised their target price on Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Guggenheim upped their price target on shares of Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Finally, Leerink Partners reissued an “outperform” rating and set a $17.00 price objective on shares of Immatics in a report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Immatics Stock Performance

IMTX opened at $9.17 on Friday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -8.99 and a beta of 1.36. The firm’s 50-day simple moving average is $10.06 and its 200-day simple moving average is $8.13. Immatics has a twelve month low of $3.30 and a twelve month high of $12.41.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Monday, November 17th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. The firm had revenue of $6.10 million for the quarter, compared to analyst estimates of $12.53 million. Immatics had a negative net margin of 146.13% and a negative return on equity of 24.16%. As a group, sell-side analysts anticipate that Immatics will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Immatics in the fourth quarter valued at approximately $2,189,000. Alyeska Investment Group L.P. bought a new position in shares of Immatics in the 3rd quarter worth $2,556,000. Verition Fund Management LLC acquired a new stake in shares of Immatics during the third quarter worth $385,000. Vestal Point Capital LP grew its stake in shares of Immatics by 1.6% during the third quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock worth $54,102,000 after purchasing an additional 100,000 shares during the period. Finally, Millennium Management LLC increased its holdings in Immatics by 4,991.1% in the third quarter. Millennium Management LLC now owns 721,866 shares of the company’s stock valued at $6,150,000 after purchasing an additional 707,687 shares during the last quarter. 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.