Immatics N.V. (NASDAQ:IMTX) Stock Has Consensus Target Price of $20.60 According to Brokerages

Key Points

• Immatics has a “Moderate Buy” consensus rating from eight analysts, with six buys, one hold and one sell. The average 12-month price target is $20.60, versus a reported share price of $7.43.
• The company reported a quarterly loss of $0.53 per share, missing the $0.47 consensus estimate, while revenue of $10.44 million also fell short of expectations.
• Perceptive Advisors purchased 863,060 shares worth approximately $7.5 million, increasing its position by 8.31%; institutional investors collectively own 64.41% of Immatics.

Immatics N.V. (NASDAQ:IMTX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $20.60.

IMTX has been the topic of a number of research analyst reports. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a report on Tuesday, August 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Immatics in a report on Friday, September 18th. Finally, Wall Street Zen raised Immatics from a "sell" rating to a "hold" rating in a research report on Saturday, September 26th.

Immatics Price Performance

Shares of IMTX stock opened at $7.43 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of -3.99 and a beta of 1.36. Immatics has a 1-year low of $7.02 and a 1-year high of $12.41. The firm's 50-day simple moving average is $8.91 and its 200-day simple moving average is $9.75.

Immatics (NASDAQ:IMTX - Get Free Report) last released its earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%. The company had revenue of $10.44 million during the quarter, compared to analyst estimates of $12.42 million. Analysts expect that Immatics will post -2.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Perceptive Advisors Llc purchased 863,060 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the purchase, the director directly owned 11,246,516 shares of the company's stock, valued at $97,732,224.04. The trade was a 8.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is owned by corporate insiders.

Institutional Trading of Immatics

A number of institutional investors have recently modified their holdings of IMTX. Troluce Capital Advisors LLC purchased a new position in Immatics in the first quarter valued at approximately $2,460,000. Sofinnova Investments Inc. lifted its position in Immatics by 54.2% during the fourth quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company's stock valued at $36,073,000 after buying an additional 1,207,705 shares in the last quarter. Wellington Management Group LLP grew its stake in Immatics by 5.5% during the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company's stock worth $16,693,000 after buying an additional 85,960 shares during the period. Monashee Investment Management LLC purchased a new stake in Immatics during the fourth quarter worth approximately $1,684,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Immatics in the first quarter worth $742,000. Hedge funds and other institutional investors own 64.41% of the company's stock.

About Immatics

Immatics N.V. NASDAQ: IMTX is a biotechnology company focused on developing T cell receptor (TCR)-based therapies for the treatment of cancer. The company identifies cancer targets and designs treatments intended to direct a patient's immune system toward tumor cells, including solid tumors that may be difficult to address with conventional immunotherapies.

Immatics' technology platforms support several therapeutic approaches, including TCR-engineered T-cell therapies and TCR-based bispecific molecules that can engage both cancer targets and T cells.

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