Vestal Point Capital LP Has $32.44 Million Stock Position in Immatics N.V. $IMTX

Key Points

• Vestal Point Capital LP increased its stake in Immatics N.V. by 14.6%, owning over 7 million shares, which represent approximately 2.3% of its portfolio.
• Several institutional investors have also significantly increased their holdings in Immatics, with Bank of America growing its stake by 166% in the last quarter.
• Analyst ratings for Immatics have varied, with Zacks Research downgrading it to a "strong sell," while Deutsche Bank set a price target of $10.00 with a "buy" rating.

Vestal Point Capital LP lifted its holdings in shares of Immatics N.V. (NASDAQ:IMTX - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,192,700 shares of the company's stock after purchasing an additional 917,700 shares during the quarter. Immatics makes up about 2.3% of Vestal Point Capital LP's holdings, making the stock its 14th biggest position. Vestal Point Capital LP owned approximately 5.92% of Immatics worth $32,439,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IMTX. Northern Trust Corp increased its stake in shares of Immatics by 31.5% during the 4th quarter. Northern Trust Corp now owns 47,226 shares of the company's stock worth $336,000 after purchasing an additional 11,304 shares during the last quarter. Algert Global LLC increased its stake in shares of Immatics by 173.1% during the 4th quarter. Algert Global LLC now owns 58,596 shares of the company's stock worth $417,000 after purchasing an additional 37,138 shares during the last quarter. Bank of America Corp DE increased its stake 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 worth $25,000 after purchasing an additional 2,231 shares during the last quarter. Braidwell LP increased its stake in shares of Immatics by 112.7% during the 4th quarter. Braidwell LP now owns 3,503,965 shares of the company's stock worth $24,913,000 after purchasing an additional 1,856,400 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Immatics by 686.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 278,382 shares of the company's stock worth $1,979,000 after purchasing an additional 242,988 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IMTX. Deutsche Bank Aktiengesellschaft began coverage on shares of Immatics in a report on Wednesday, May 28th. They set a "buy" rating and a $10.00 price objective for the company. Wall Street Zen downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Finally, Zacks Research downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $14.67.

Immatics Stock Up 9.4%

Immatics stock traded up $0.54 during mid-day trading on Friday, reaching $6.26. The company had a trading volume of 3,222,693 shares, compared to its average volume of 823,409. Immatics N.V. has a 52 week low of $3.30 and a 52 week high of $13.09. The company has a 50 day moving average of $5.95 and a 200-day moving average of $5.23. The firm has a market cap of $760.90 million, a price-to-earnings ratio of -9.63 and a beta of 1.02.

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

Immatics 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.