Immatics N.V. (NASDAQ:IMTX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Immatics N.V. (NASDAQ:IMTX) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.80.

A number of equities research analysts have issued reports on IMTX shares. TD Cowen assumed coverage on Immatics in a research note on Tuesday, April 28th. They set a “buy” rating for the company. Jefferies Financial Group initiated coverage on shares of Immatics in a research note on Monday, March 16th. They issued a “buy” rating and a $18.00 price objective on the stock. Weiss Ratings downgraded shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Chardan Capital restated a “buy” rating and set a $25.00 target price on shares of Immatics in a research report on Tuesday, May 19th. Finally, Wall Street Zen cut shares of Immatics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its holdings in Immatics by 10.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock worth $225,322,000 after purchasing an additional 2,075,987 shares during the period. Baker BROS. Advisors LP increased its position in Immatics by 18.9% in the third quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after buying an additional 1,925,193 shares in the last quarter. RTW Investments LP increased its position in Immatics by 29.7% in the fourth quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock worth $120,050,000 after buying an additional 2,617,737 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Immatics by 10.7% in the fourth quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock worth $109,026,000 after buying an additional 1,000,000 shares during the period. Finally, Vestal Point Capital LP raised its stake 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 worth $54,102,000 after buying an additional 100,000 shares during the period. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Immatics Price Performance

IMTX stock opened at $9.85 on Thursday. Immatics has a 1 year low of $5.05 and a 1 year high of $12.41. The company has a market cap of $1.32 billion, a P/E ratio of -4.95 and a beta of 1.32. The stock’s fifty day moving average price is $10.52 and its 200-day moving average price is $10.18.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. The firm had revenue of $8.81 million for the quarter, compared to analysts’ expectations of $9.79 million. As a group, analysts expect that Immatics will post -1.67 earnings per share for the current year.

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.