Immatics (NASDAQ:IMTX) Sets New 12-Month High – Here’s What Happened

Immatics N.V. (NASDAQ:IMTX)’s share price hit a new 52-week high on Friday . The stock traded as high as $12.41 and last traded at $11.87, with a volume of 1011398 shares. The stock had previously closed at $10.34.

Wall Street Analyst Weigh In

IMTX has been the subject of a number of analyst reports. Zacks Research upgraded Immatics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Mizuho increased their target price on Immatics from $19.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research note on Wednesday, October 8th. Leerink Partners restated an “outperform” rating and issued a $17.00 price target on shares of Immatics in a research note on Thursday. Finally, Guggenheim increased their price objective on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Immatics has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Immatics Price Performance

The business has a 50-day moving average of $9.97 and a 200 day moving average of $7.31. The company has a market capitalization of $1.44 billion, a PE ratio of -11.64 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last posted its earnings results on Monday, November 17th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. Immatics had a negative net margin of 146.13% and a negative return on equity of 24.16%. The firm had revenue of $6.10 million for the quarter, compared to the consensus estimate of $12.53 million. As a group, research analysts anticipate that Immatics N.V. will post -0.72 EPS for the current year.

Institutional Investors Weigh In On Immatics

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 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after acquiring an additional 2,231 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Immatics in the 2nd quarter valued at approximately $59,000. Insigneo Advisory Services LLC purchased a new stake in Immatics in the third quarter valued at approximately $103,000. Engineers Gate Manager LP purchased a new stake in Immatics in the second quarter valued at approximately $124,000. Finally, Fox Run Management L.L.C. acquired a new position in Immatics during the second quarter worth $136,000. Institutional investors own 64.41% of the company’s stock.

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.