Millennium Management LLC Purchases 123,986 Shares of Immatics (NASDAQ:IMTX)

Millennium Management LLC grew its position in Immatics (NASDAQ:IMTX - Free Report) by 379.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,686 shares of the company's stock after buying an additional 123,986 shares during the quarter. Millennium Management LLC owned 0.13% of Immatics worth $1,114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after buying an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC raised its position in shares of Immatics by 34.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock valued at $68,000 after buying an additional 2,479 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Immatics by 24.6% in the 4th 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 in the last quarter. Forefront Analytics LLC raised its position in shares of Immatics by 42.3% in the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock valued at $113,000 after buying an additional 4,731 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Immatics by 31.5% in the 4th quarter. Northern Trust Corp now owns 47,226 shares of the company's stock valued at $336,000 after buying an additional 11,304 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IMTX. Deutsche Bank Aktiengesellschaft started coverage on shares of Immatics in a research report on Wednesday, May 28th. They issued a "buy" rating and a $10.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research note on Tuesday, April 1st. Finally, Wall Street Zen downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Immatics currently has an average rating of "Moderate Buy" and a consensus target price of $14.67.

Immatics Stock Performance

Shares of IMTX traded up $0.19 during mid-day trading on Friday, reaching $5.97. The company had a trading volume of 677,642 shares, compared to its average volume of 649,372. The company's 50 day simple moving average is $4.68 and its 200 day simple moving average is $5.49. Immatics has a 1-year low of $3.30 and a 1-year high of $13.69. The company has a market capitalization of $725.65 million, a price-to-earnings ratio of -9.05 and a beta of 0.83.

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