Immatics N.V. (NASDAQ:IMTX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Immatics N.V. (NASDAQ:IMTX) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.80.

A number of research analysts recently issued reports on IMTX shares. Zacks Research upgraded shares of Immatics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Chardan Capital restated a “buy” rating and issued a $25.00 price objective on shares of Immatics in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Wednesday, October 8th. Leerink Partners reissued an “outperform” rating and issued a $17.00 target price on shares of Immatics in a report on Thursday, December 4th. Finally, Guggenheim lifted their price target on Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Baker BROS. Advisors LP boosted its stake in shares of Immatics by 18.9% during the third quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after buying an additional 1,925,193 shares during the period. Vestal Point Capital LP raised its stake in Immatics by 1.6% during the 3rd quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock valued at $54,102,000 after acquiring an additional 100,000 shares during the last quarter. Sofinnova Investments Inc. lifted its position in Immatics by 44.1% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock worth $12,054,000 after acquiring an additional 686,224 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Immatics during the 3rd quarter worth approximately $10,181,000. Finally, Aberdeen Group plc grew its stake in shares of Immatics by 9.7% in the 3rd quarter. Aberdeen Group plc now owns 789,446 shares of the company’s stock valued at $6,726,000 after purchasing an additional 69,860 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Stock Up 2.5%

Immatics stock opened at $9.84 on Thursday. The firm has a market cap of $1.20 billion, a PE ratio of -9.65 and a beta of 1.36. Immatics has a 52-week low of $3.30 and a 52-week high of $12.41. The company’s 50 day moving average is $10.10 and its two-hundred day moving average is $8.07.

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

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.