Immatics (NASDAQ:IMTX) Stock Price Up 3.9% – Should You Buy?

Immatics N.V. (NASDAQ:IMTX) shot up 3.9% on Wednesday . The stock traded as high as $10.42 and last traded at $10.4630. 130,449 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 764,094 shares. The stock had previously closed at $10.07.

Wall Street Analyst Weigh In

IMTX has been the subject of several recent research reports. Chardan Capital reissued a “buy” rating and set a $25.00 price target on shares of Immatics in a research report on Monday, November 24th. Mizuho increased their price objective on Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Guggenheim boosted their target price on shares of Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Immatics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Six equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Immatics Price Performance

The stock has a market capitalization of $1.28 billion, a P/E ratio of -10.29 and a beta of 1.36. The stock’s 50-day simple moving average is $10.14 and its 200 day simple moving average is $7.95.

Immatics (NASDAQ:IMTX) last posted its earnings results on Monday, November 17th. The company reported ($0.49) earnings per share (EPS) 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 company had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $12.53 million. As a group, analysts expect that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immatics

Several institutional investors and hedge funds have recently made changes to their positions in IMTX. Vontobel Holding Ltd. acquired a new stake in Immatics during the 2nd quarter worth approximately $59,000. Fox Run Management L.L.C. bought a new position in Immatics during the 2nd quarter worth $136,000. Trexquant Investment LP acquired a new stake in shares of Immatics during the first quarter worth $783,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Immatics by 28.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,894 shares of the company’s stock worth $172,000 after buying an additional 7,116 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Immatics in the second quarter valued at about $237,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.