Brokerages Set Immatics N.V. (NASDAQ:IMTX) PT at $14.67

Shares of Immatics N.V. (NASDAQ:IMTX) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $14.6667.

A number of equities analysts have recently commented on IMTX shares. Wall Street Zen downgraded shares of Immatics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Zacks Research cut Immatics from a “hold” rating to a “strong sell” rating in a research note on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Immatics in a research note on Wednesday, May 28th. They set a “buy” rating and a $10.00 price objective on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Immatics by 166.0% during the fourth 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. acquired a new position in shares of Immatics during the second quarter worth about $59,000. Intellectus Partners LLC acquired a new position in shares of Immatics during the first quarter worth about $70,000. Forefront Analytics LLC increased its position in shares of Immatics by 42.3% during the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after acquiring an additional 4,731 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Immatics by 94.5% during the first quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company’s stock worth $115,000 after acquiring an additional 12,425 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Trading Up 9.4%

Shares of Immatics stock opened at $6.26 on Friday. Immatics has a twelve month low of $3.30 and a twelve month high of $13.09. The stock has a market capitalization of $760.90 million, a P/E ratio of -9.63 and a beta of 1.02. The business’s fifty day moving average price is $5.95 and its 200 day moving average price is $5.23.

Immatics (NASDAQ:IMTX) last issued its earnings results on Wednesday, August 13th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.28). Immatics had a negative net margin of 59.29% and a negative return on equity of 15.60%. The firm had revenue of $6.48 million during the quarter, compared to analyst estimates of $13.05 million. As a group, sell-side analysts predict that Immatics will post -0.72 EPS for the current year.

Immatics Company Profile

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.