Immatics' (IMTX) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Immatics' stock has received a "sell (D-)" rating from Weiss Ratings, which highlights concerns over the company's financial performance.
• The company reported a loss per share of ($0.66) for the last quarter, missing estimates and reflecting weak revenue of $6.48 million compared to the anticipated $13.05 million.
• Despite a consensus rating of "Moderate Buy" among analysts, some firms like Zacks Research have downgraded the stock to a "strong sell" rating.

Immatics (NASDAQ:IMTX - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. Zacks Research cut shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Guggenheim initiated coverage on shares of Immatics in a report on Thursday, September 18th. They set a "buy" rating and a $16.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.67.

Immatics Price Performance

Shares of IMTX opened at $10.37 on Wednesday. Immatics has a one year low of $3.30 and a one year high of $11.20. The company has a 50-day moving average of $6.56 and a two-hundred day moving average of $5.65. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -15.95 and a beta of 1.22.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.28). Immatics had a negative return on equity of 15.60% and a negative net margin of 59.29%.The firm had revenue of $6.48 million during the quarter, compared to analyst estimates of $13.05 million. Analysts anticipate that Immatics will post -0.72 earnings per share for the current year.

Institutional Trading of Immatics

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Immatics by 166.0% during the fourth 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 period. Vontobel Holding Ltd. acquired a new position in shares of Immatics during the 2nd quarter worth $59,000. Exchange Traded Concepts LLC increased its stake in shares of Immatics by 94.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company's stock worth $115,000 after purchasing an additional 12,425 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Immatics during the 2nd quarter worth $124,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Immatics during the 2nd quarter worth $136,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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