Immatics N.V. $IMTX Shares Bought by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Immatics N.V. by 38.4%, acquiring a total of 14,677,003 shares worth approximately $66.19 million.
• Immatics N.V. reported a quarterly loss of ($0.66) earnings per share, significantly missing analysts' expectations, and had revenue of $6.48 million against forecasts of $13.05 million.
• Wall Street analysts have mixed ratings on Immatics, with one Strong Buy, four Buy, and one Sell rating, leading to a consensus target price of $14.67.

T. Rowe Price Investment Management Inc. increased its position in Immatics N.V. (NASDAQ:IMTX - Free Report) by 38.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,677,003 shares of the company's stock after acquiring an additional 4,072,226 shares during the period. T. Rowe Price Investment Management Inc. owned about 12.07% of Immatics worth $66,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IMTX. Bank of America Corp DE boosted its holdings in shares of Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after acquiring an additional 2,231 shares during the last quarter. Virtus ETF Advisers LLC increased its position in Immatics by 34.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock valued at $68,000 after acquiring an additional 2,479 shares during the last quarter. Guggenheim Capital LLC bought a new position in Immatics in the fourth quarter valued at about $101,000. Intellectus Partners LLC purchased a new stake in shares of Immatics during the 1st quarter valued at about $70,000. Finally, Forefront Analytics LLC increased its position in Immatics by 42.3% in the fourth 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. 64.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on IMTX shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Immatics in a report on Wednesday, May 28th. They issued a "buy" rating and a $10.00 target price on the stock. Zacks Research cut shares of Immatics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Wall Street Zen lowered Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Immatics currently has a consensus rating of "Moderate Buy" and an average price target of $14.67.

Immatics Stock Down 0.6%

Shares of NASDAQ:IMTX traded down $0.03 during midday trading on Thursday, reaching $5.37. The company's stock had a trading volume of 75,779 shares, compared to its average volume of 756,292. The firm has a market capitalization of $652.60 million, a PE ratio of -8.22 and a beta of 0.93. The stock has a fifty day moving average of $5.96 and a 200 day moving average of $5.21. Immatics N.V. has a twelve month low of $3.30 and a twelve month high of $13.09.

Immatics (NASDAQ:IMTX - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.28). Immatics had a negative net margin of 59.29% and a negative return on equity of 15.60%. The company had revenue of $6.48 million for the quarter, compared to analysts' expectations of $13.05 million. Sell-side analysts anticipate that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

About Immatics

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.