Vestal Point Capital LP Buys 2,525,000 Shares of Immatics (NASDAQ:IMTX)

Vestal Point Capital LP raised its holdings in Immatics (NASDAQ:IMTX - Free Report) by 67.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,275,000 shares of the company's stock after acquiring an additional 2,525,000 shares during the quarter. Immatics comprises approximately 2.6% of Vestal Point Capital LP's holdings, making the stock its 13th largest position. Vestal Point Capital LP owned about 5.26% of Immatics worth $44,615,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IMTX. Suvretta Capital Management LLC acquired a new position in Immatics during the fourth quarter worth $36,014,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Immatics by 43.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company's stock worth $75,400,000 after acquiring an additional 3,225,141 shares in the last quarter. Braidwell LP increased its holdings in shares of Immatics by 112.7% during the 4th quarter. Braidwell LP now owns 3,503,965 shares of the company's stock valued at $24,913,000 after acquiring an additional 1,856,400 shares during the last quarter. Paradigm Biocapital Advisors LP increased its holdings in shares of Immatics by 38.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company's stock valued at $38,496,000 after acquiring an additional 1,509,547 shares during the last quarter. Finally, Orbimed Advisors LLC raised its stake in shares of Immatics by 53.9% in the 4th quarter. Orbimed Advisors LLC now owns 3,087,462 shares of the company's stock valued at $21,952,000 after acquiring an additional 1,081,081 shares in the last quarter. 64.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Immatics Price Performance

Shares of NASDAQ IMTX traded down $0.09 during trading hours on Friday, hitting $5.11. 375,092 shares of the company's stock were exchanged, compared to its average volume of 659,127. The company's 50-day moving average price is $4.52 and its 200-day moving average price is $5.76. Immatics has a 1-year low of $3.30 and a 1-year high of $13.77. The stock has a market capitalization of $621.12 million, a price-to-earnings ratio of -7.74 and a beta of 0.87.

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

Immatics Company 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.