Immatics (NASDAQ:IMTX) Receives $17.00 Average Price Target from Analysts

Immatics (NASDAQ:IMTX) has earned an average rating of “Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.67.

IMTX has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Immatics in a report on Wednesday. They issued a “buy” rating and a $10.00 target price for the company. Finally, Wall Street Zen downgraded Immatics from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd.

Immatics Price Performance

NASDAQ IMTX opened at $5.57 on Wednesday. The company has a market cap of $677.03 million, a P/E ratio of -8.44 and a beta of 0.87. The stock has a 50-day moving average of $4.54 and a two-hundred day moving average of $5.60. Immatics has a 1-year low of $3.30 and a 1-year high of $13.77.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. The firm had revenue of $20.12 million during the quarter, compared to analysts’ expectations of $14.92 million. On average, analysts anticipate that Immatics will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

Large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted 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 purchasing an additional 4,072,226 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 purchasing an additional 736,709 shares in the last quarter. Baker BROS. Advisors LP lifted its position in shares of Immatics by 12.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company’s stock worth $51,731,000 after buying an additional 832,432 shares during the last quarter. Vestal Point Capital LP lifted its position in shares of Immatics by 14.6% during the 1st quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company’s stock worth $32,439,000 after buying an additional 917,700 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its holdings in shares of Immatics by 38.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock valued at $38,496,000 after buying an additional 1,509,547 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

About Immatics

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.