Immatics N.V. (NASDAQ:IMTX) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Six of eight analysts rate Immatics a buy, versus one hold and one sell, with an average 12-month price target of $20.60.
• Immatics shares opened at $8.62, below their 50-day and 200-day moving averages. The company missed quarterly expectations, reporting an adjusted loss of $0.53 per share versus the $0.47 consensus and revenue of $10.44 million versus $12.42 million expected.
• Insider and institutional interest remains notable: Perceptive Advisors bought 863,060 shares, while institutional investors collectively own 64.41% of the company.

Immatics N.V. (NASDAQ:IMTX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.60.

A number of equities analysts recently commented on the company. Weiss Ratings downgraded Immatics from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, June 23rd. Chardan Capital reissued a "buy" rating and set a $25.00 price objective on shares of Immatics in a research report on Tuesday, May 19th. Finally, Jefferies Financial Group set a $17.00 target price on shares of Immatics in a research note on Tuesday, August 25th.

Immatics Stock Down 1.9%

NASDAQ:IMTX opened at $8.62 on Tuesday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -4.63 and a beta of 1.33. The company has a fifty day moving average of $9.32 and a 200 day moving average of $9.97. Immatics has a 52 week low of $5.67 and a 52 week high of $12.41.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.06). The firm had revenue of $10.44 million during the quarter, compared to the consensus estimate of $12.42 million. Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%. As a group, analysts anticipate that Immatics will post -2 EPS for the current year.

Insider Buying and Selling

In related news, Director Perceptive Advisors Llc acquired 863,060 shares of the stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the acquisition, the director directly owned 11,246,516 shares of the company's stock, valued at approximately $97,732,224.04. This represents a 8.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IMTX. Troluce Capital Advisors LLC purchased a new stake in Immatics in the first quarter worth $2,460,000. Sofinnova Investments Inc. increased its stake in shares of Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company's stock worth $36,073,000 after acquiring an additional 1,207,705 shares in the last quarter. Monashee Investment Management LLC purchased a new position in Immatics during the 4th quarter valued at about $1,684,000. Y Intercept Hong Kong Ltd purchased a new position in Immatics during the 1st quarter valued at about $742,000. Finally, Perceptive Advisors LLC boosted its stake in Immatics by 10.7% during the fourth quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company's stock worth $109,026,000 after acquiring an additional 1,000,000 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company's stock.

About Immatics

Immatics N.V. is a biopharmaceutical company focused on developing T cell receptor (TCR)-based therapies for cancer. The company aims to identify cancer targets that are presented on the surface of tumor cells and develop treatments that enable T cells to recognize and attack those cells, including targets that may be difficult to address with conventional antibody-based medicines.

Immatics' technology platforms support two primary approaches: TCR-engineered T-cell therapies, known as TCR-T, and TCR-based bispecific molecules designed to direct patients' T cells toward tumor cells.

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