Immatics (NASDAQ:IMTX) Shares Up 2.9% – What’s Next?

Immatics N.V. (NASDAQ:IMTX) shares shot up 2.9% during mid-day trading on Wednesday . The company traded as high as $6.19 and last traded at $6.13. 528,300 shares changed hands during trading, a decline of 22% from the average session volume of 681,326 shares. The stock had previously closed at $5.96.

Analysts Set New Price Targets

A number of research firms recently issued reports on IMTX. Deutsche Bank Aktiengesellschaft began coverage on shares of Immatics in a research report on Wednesday, May 28th. They set a “buy” rating and a $10.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st. Finally, Wall Street Zen downgraded shares of Immatics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Immatics presently has a consensus rating of “Moderate Buy” and an average target price of $14.67.

Immatics Stock Performance

The firm has a market capitalization of $745.10 million, a P/E ratio of -36.06 and a beta of 0.81. The stock has a fifty day moving average price of $5.50 and a two-hundred day moving average price of $5.18.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results 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 return on equity of 4.52% and a negative net margin of 14.73%. The business had revenue of $20.12 million during the quarter, compared to the consensus estimate of $14.92 million. As a group, research analysts anticipate that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in shares of Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after buying an additional 2,231 shares during the period. Virtus ETF Advisers LLC raised its stake in shares of Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after purchasing an additional 2,479 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Immatics during the 4th quarter worth about $101,000. Intellectus Partners LLC purchased a new stake in shares of Immatics during the 1st quarter worth about $70,000. Finally, Forefront Analytics LLC raised its stake in shares of Immatics by 42.3% in the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after acquiring an additional 4,731 shares in the last quarter. Institutional investors and hedge funds 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.