Immatics (NASDAQ:IMTX) Given Average Recommendation of "Buy" by Brokerages

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

A number of research analysts recently commented on IMTX shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immatics in a report on Tuesday, April 1st. Wall Street Zen downgraded Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Immatics in a research note on Wednesday. They issued a "buy" rating and a $10.00 price target on the stock.

Institutional Trading of Immatics

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its position 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 buying an additional 2,231 shares during the period. Virtus ETF Advisers LLC grew its holdings in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock worth $68,000 after acquiring an additional 2,479 shares in the last quarter. Guggenheim Capital LLC acquired a new position in shares of Immatics during the fourth quarter worth $101,000. Intellectus Partners LLC purchased a new position in shares of Immatics in the 1st quarter valued at about $70,000. Finally, Forefront Analytics LLC raised its holdings in Immatics by 42.3% during the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock worth $113,000 after purchasing an additional 4,731 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company's stock.

Immatics Stock Performance

Shares of IMTX stock traded up $0.13 on Wednesday, hitting $5.57. 581,853 shares of the stock traded hands, compared to its average volume of 648,416. Immatics has a twelve month low of $3.30 and a twelve month high of $13.77. The firm's 50-day moving average price is $4.54 and its two-hundred day moving average price is $5.57. The stock has a market capitalization of $677.03 million, a PE ratio of -8.44 and a beta of 0.87.

Immatics (NASDAQ:IMTX - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate 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. On average, equities research analysts anticipate that Immatics will post -0.72 EPS 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.