Wall Street Zen Downgrades Immatics (NASDAQ:IMTX) to Sell

Immatics (NASDAQ:IMTX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a report on Wednesday, October 8th. Mizuho upped their price target on shares of Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Guggenheim raised their price objective on shares of Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Chardan Capital restated a “buy” rating and issued a $25.00 target price on shares of Immatics in a report on Monday, November 24th. Finally, Zacks Research raised 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Immatics Stock Performance

NASDAQ IMTX opened at $9.17 on Friday. Immatics has a 1 year low of $3.30 and a 1 year high of $12.41. The business’s fifty day moving average is $10.06 and its two-hundred day moving average is $8.13. The stock has a market capitalization of $1.11 billion, a P/E ratio of -8.99 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last issued 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. The business had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $12.53 million. Immatics had a negative return on equity of 24.16% and a negative net margin of 146.13%. On average, research analysts forecast that Immatics will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Immatics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP raised its holdings in Immatics by 18.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after acquiring an additional 1,925,193 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Immatics during the 3rd quarter worth about $10,181,000. Millennium Management LLC raised its holdings in Immatics by 4,991.1% in the 3rd quarter. Millennium Management LLC now owns 721,866 shares of the company’s stock valued at $6,150,000 after acquiring an additional 707,687 shares in the last quarter. Sofinnova Investments Inc. raised its stake in shares of Immatics by 44.1% in the second quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock valued at $12,054,000 after purchasing an additional 686,224 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Immatics in the 3rd quarter valued at $2,556,000. 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.