Millennium Management LLC Raises Stake in Immatics (NASDAQ:IMTX)

Millennium Management LLC boosted its holdings in Immatics (NASDAQ:IMTX - Free Report) by 379.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 156,686 shares of the company's stock after buying an additional 123,986 shares during the period. Millennium Management LLC owned 0.13% of Immatics worth $1,114,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IMTX. abrdn plc lifted its stake in Immatics by 49.2% in the 4th quarter. abrdn plc now owns 347,379 shares of the company's stock worth $2,470,000 after purchasing an additional 114,479 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Immatics in the fourth quarter worth about $211,000. Platinum Investment Management Ltd. lifted its position in shares of Immatics by 53.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 311,722 shares of the company's stock worth $2,216,000 after buying an additional 108,108 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Immatics by 24.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company's stock valued at $163,000 after buying an additional 4,477 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Immatics by 52.6% during the 4th quarter. Schroder Investment Management Group now owns 427,994 shares of the company's stock valued at $2,953,000 after buying an additional 147,547 shares in the last quarter. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Immatics Stock Up 3.3%

IMTX traded up $0.19 during trading on Friday, reaching $5.97. The company had a trading volume of 677,642 shares, compared to its average volume of 648,269. Immatics has a 52 week low of $3.30 and a 52 week high of $13.77. The business has a 50 day simple moving average of $4.64 and a 200-day simple moving average of $5.53. The stock has a market cap of $725.65 million, a P/E ratio of -9.05 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started 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. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Immatics presently has a consensus rating of "Moderate Buy" and an average target price of $14.67.

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.