Immatics (NASDAQ:IMTX) Reaches New 1-Year High - Here's What Happened

Key Points

• Immatics (NASDAQ:IMTX) reached a new 52-week high of $10.94 amid mid-day trading, with shares closing at $10.90, reflecting a volume of over 2 million shares.
• Despite the stock's recent performance, analysts have mixed views: while Guggenheim set a "buy" rating with a $16 price target, Zacks downgraded it to a "strong sell" rating.
• Immatics reported a quarterly loss of ($0.66) EPS, missing projections, and had a revenue of $6.48 million, significantly below the expected $13.05 million.

Immatics N.V. (NASDAQ:IMTX - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.94 and last traded at $10.90, with a volume of 2282922 shares trading hands. The stock had previously closed at $10.37.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IMTX shares. Guggenheim started coverage on shares of Immatics in a report on Thursday, September 18th. They set a "buy" rating and a $16.00 price target on the stock. Zacks Research downgraded shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immatics in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Immatics has a consensus rating of "Moderate Buy" and a consensus target price of $13.67.

Immatics Stock Up 5.1%

The company has a market cap of $1.32 billion, a PE ratio of -16.77 and a beta of 1.22. The business's fifty day moving average is $6.65 and its 200-day moving average is $5.69.

Immatics (NASDAQ:IMTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.66) earnings per share (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 during the quarter, compared to analysts' expectations of $13.05 million. Analysts forecast that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Immatics by 166.0% during the fourth 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 in the last quarter. Vontobel Holding Ltd. purchased a new position in Immatics during the second quarter valued at approximately $59,000. Engineers Gate Manager LP purchased a new position in Immatics during the second quarter valued at approximately $124,000. Fox Run Management L.L.C. purchased a new position in Immatics during the second quarter valued at approximately $136,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Immatics by 94.5% during the first quarter. Exchange Traded Concepts LLC now owns 25,580 shares of the company's stock valued at $115,000 after purchasing an additional 12,425 shares in the last quarter. Hedge funds and other institutional investors 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.

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