Immatics N.V. (NASDAQ:IMTX – Get Free Report)’s stock price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $6.42, but opened at $6.00. Immatics shares last traded at $6.43, with a volume of 162,986 shares trading hands.
The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04. The company had revenue of $20.12 million during the quarter, compared to analysts’ expectations of $14.92 million. Immatics had a negative return on equity of 4.52% and a negative net margin of 14.73%.
Analysts Set New Price Targets
A number of analysts have recently commented on IMTX shares. Deutsche Bank Aktiengesellschaft started coverage on Immatics in a research note on Wednesday, May 28th. They issued a “buy” rating and a $10.00 price target for the company. Wall Street Zen cut Immatics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Immatics currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.67.
Institutional Trading of Immatics
Large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after purchasing an additional 2,231 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Immatics during the 2nd quarter worth approximately $59,000. Virtus ETF Advisers LLC increased its stake in 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. Intellectus Partners LLC bought a new stake in Immatics during the 1st quarter worth approximately $70,000. Finally, Guggenheim Capital LLC bought a new stake in Immatics during the 4th quarter worth approximately $101,000. 64.41% of the stock is owned by institutional investors.
Immatics Trading Down 5.0%
The business has a 50 day moving average of $6.02 and a 200-day moving average of $5.19. The firm has a market capitalization of $741.46 million, a P/E ratio of -35.88 and a beta of 0.93.
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.
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