Suvretta Capital Management LLC Purchases New Position in Immatics (NASDAQ:IMTX)

Suvretta Capital Management LLC purchased a new stake in Immatics (NASDAQ:IMTX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,065,277 shares of the company's stock, valued at approximately $36,014,000. Immatics makes up about 1.2% of Suvretta Capital Management LLC's investment portfolio, making the stock its 28th largest holding. Suvretta Capital Management LLC owned approximately 4.24% of Immatics at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IMTX. Bank of America Corp DE lifted its holdings in 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 buying an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in Immatics by 34.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock worth $68,000 after buying an additional 2,479 shares in the last quarter. Guggenheim Capital LLC acquired a new position in Immatics in the 4th quarter worth $101,000. Forefront Analytics LLC lifted its holdings in Immatics by 42.3% in the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock worth $113,000 after buying an additional 4,731 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Immatics in the 4th quarter worth $130,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IMTX. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immatics in a report on Tuesday, April 1st. Wall Street Zen downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Immatics Stock Up 2.1%

Shares of IMTX traded up $0.11 during mid-day trading on Thursday, hitting $5.23. 210,214 shares of the company's stock were exchanged, compared to its average volume of 659,473. Immatics has a twelve month low of $3.30 and a twelve month high of $13.77. The firm has a fifty day moving average of $4.52 and a two-hundred day moving average of $5.78. The stock has a market cap of $635.10 million, a price-to-earnings ratio of -7.92 and a beta of 0.87.

Immatics (NASDAQ:IMTX - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.04. The business had revenue of $20.12 million during the quarter, compared to analysts' expectations of $14.92 million. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. On average, equities analysts predict that Immatics will post -0.72 earnings per share for the current year.

Immatics 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.