Immatics (NASDAQ:IMTX) Receives Average Rating of "Buy" from Brokerages

Immatics (NASDAQ:IMTX - Get Free Report) has earned an average recommendation of "Buy" from the five brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.67.

A number of brokerages have recently commented on IMTX. Deutsche Bank Aktiengesellschaft began coverage on shares of Immatics in a research note on Wednesday. They issued a "buy" rating and a $10.00 target price on the stock. Cantor Fitzgerald reissued 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.

Immatics Stock Up 5.8%

Shares of IMTX stock traded up $0.30 during mid-day trading on Wednesday, reaching $5.44. The company's stock had a trading volume of 446,357 shares, compared to its average volume of 648,285. The company's 50 day simple moving average is $4.52 and its 200-day simple moving average is $5.62. Immatics has a 12-month low of $3.30 and a 12-month high of $13.77. The firm has a market capitalization of $661.23 million, a PE ratio of -8.24 and a beta of 0.87.

Immatics (NASDAQ:IMTX - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.35) EPS for the quarter, beating 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 business had revenue of $20.12 million for the quarter, compared to the consensus estimate of $14.92 million. As a group, research analysts anticipate that Immatics will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in 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 purchasing an additional 2,231 shares during the period. Virtus ETF Advisers LLC boosted its stake in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock valued at $68,000 after purchasing an additional 2,479 shares during the period. Intellectus Partners LLC acquired a new position in Immatics during the 1st quarter valued at about $70,000. Guggenheim Capital LLC acquired a new position in Immatics during the 4th quarter valued at about $101,000. Finally, Forefront Analytics LLC boosted its stake in Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock valued at $113,000 after purchasing an additional 4,731 shares during the period. 64.41% of the stock is 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.