Immatics (NASDAQ:IMTX) Rating Lowered to Hold at Zacks Investment Research

Immatics (NASDAQ:IMTXGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Immatics N.V. engages in the discovery of targets for cancer immunotherapies. It is developing targeted immunotherapies with focus on treating solid tumors. Immatics N.V., formerly known as ARYA SCIENCES, is based in Tuebingen, Germany. “

Separately, SVB Leerink cut their target price on Immatics from $32.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, March 24th.

Shares of NASDAQ:IMTX opened at $7.96 on Thursday. The company has a market capitalization of $500.76 million, a P/E ratio of -4.74 and a beta of 0.38. Immatics has a 1 year low of $6.48 and a 1 year high of $16.30. The business’s 50 day simple moving average is $7.93 and its 200 day simple moving average is $10.18.

Immatics (NASDAQ:IMTXGet Rating) last released its earnings results on Wednesday, March 23rd. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $1.94 by ($2.24). Immatics had a negative return on equity of 154.19% and a negative net margin of 260.05%. The business had revenue of $17.99 million for the quarter, compared to the consensus estimate of $84.78 million. Sell-side analysts predict that Immatics will post -0.21 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in IMTX. Sphera Funds Management LTD. bought a new position in shares of Immatics in the 3rd quarter valued at $10,401,000. Sofinnova Investments Inc. lifted its stake in shares of Immatics by 114.7% in the 4th quarter. Sofinnova Investments Inc. now owns 1,026,623 shares of the company’s stock valued at $13,798,000 after acquiring an additional 548,407 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Immatics by 22.7% in the 4th quarter. Woodline Partners LP now owns 743,490 shares of the company’s stock valued at $9,993,000 after acquiring an additional 137,570 shares during the last quarter. Altium Capital Management LP lifted its stake in shares of Immatics by 39.0% in the 3rd quarter. Altium Capital Management LP now owns 478,987 shares of the company’s stock valued at $6,227,000 after acquiring an additional 134,429 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Immatics by 217.3% in the 4th quarter. State Street Corp now owns 91,517 shares of the company’s stock valued at $1,230,000 after acquiring an additional 62,679 shares during the last quarter. Institutional investors own 36.61% of the company’s stock.

Immatics Company Profile (Get Rating)

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the discovery and development of T cell receptor (TCR) based 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 adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.

Further Reading

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