Immatics (NASDAQ:IMTX) Coverage Initiated by Analysts at Guggenheim

Key Points

• Guggenheim has initiated coverage of Immatics (NASDAQ:IMTX) with a buy rating and a price target of $16.00, indicating potential upside of 165.34% from its last close.
• The company's most recent earnings report showed a loss of ($0.66) per share, falling short of estimates and reflecting a negative return on equity of 15.60%.
• Institutional investors hold 64.41% of Immatics stock, with significant recent increases in stakes from firms like T. Rowe Price and Aberdeen Group.

Research analysts at Guggenheim assumed coverage on shares of Immatics (NASDAQ:IMTX - Get Free Report) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $16.00 price target on the stock. Guggenheim's price target indicates a potential upside of 137.04% from the company's current price.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Immatics from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft began coverage on Immatics in a research report on Wednesday, May 28th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Zacks Research downgraded Immatics from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.00.

Immatics Trading Up 0.7%

Shares of IMTX traded up $0.05 on Thursday, reaching $6.75. 165,145 shares of the company's stock were exchanged, compared to its average volume of 775,638. The stock has a market capitalization of $820.46 million, a P/E ratio of -10.38 and a beta of 1.02. Immatics has a 12 month low of $3.30 and a 12 month high of $12.17. The business has a 50 day moving average price of $6.02 and a two-hundred day moving average price of $5.34.

Immatics (NASDAQ:IMTX - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.66) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $6.48 million for the quarter, compared to the consensus estimate of $13.05 million. Equities research analysts predict that Immatics will post -0.72 EPS for the current year.

Hedge Funds Weigh In On Immatics

Several hedge funds and other institutional investors have recently bought and sold shares of IMTX. T. Rowe Price Investment Management Inc. increased its position in shares of Immatics by 38.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company's stock worth $66,194,000 after purchasing an additional 4,072,226 shares during the last quarter. Vestal Point Capital LP grew its position in shares of Immatics by 14.6% in the 1st quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company's stock worth $32,439,000 after acquiring an additional 917,700 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Immatics by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company's stock worth $74,071,000 after buying an additional 736,709 shares in the last quarter. Sofinnova Investments Inc. grew its holdings in shares of Immatics by 44.1% during the second quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company's stock valued at $12,054,000 after buying an additional 686,224 shares in the last quarter. Finally, Aberdeen Group plc grew its stake in Immatics by 107.1% in the first quarter. Aberdeen Group plc now owns 719,586 shares of the company's stock valued at $3,245,000 after purchasing an additional 372,207 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company's stock.

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.