Immatics (NASDAQ:IMTX) Sees Large Volume Increase - Still a Buy?

Immatics (NASDAQ:IMTX - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 932,570 shares changed hands during mid-day trading, an increase of 44% from the previous session's volume of 647,436 shares.The stock last traded at $6.27 and had previously closed at $5.94.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IMTX. Wall Street Zen cut shares of Immatics from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on Immatics in a research report on Wednesday, May 28th. They set a "buy" rating and a $10.00 price target for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.67.

Immatics Price Performance

The company has a market cap of $743.89 million, a PE ratio of -9.27 and a beta of 0.83. The company has a 50-day moving average price of $4.91 and a two-hundred day moving average price of $5.46.

Immatics (NASDAQ:IMTX - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.04. The firm had revenue of $20.12 million for the quarter, compared to the consensus estimate of $14.92 million. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. On average, equities research analysts anticipate that Immatics will post -0.72 earnings per share for the current year.

Institutional Trading of Immatics

Several large investors have recently added to or reduced their stakes in IMTX. T. Rowe Price Investment Management Inc. increased its stake in 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 valued at $66,194,000 after buying an additional 4,072,226 shares during the period. Wellington Management Group LLP raised its holdings in Immatics by 7.6% during 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 during the period. Baker BROS. Advisors LP boosted its holdings in shares of Immatics by 12.9% in the fourth quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company's stock worth $51,731,000 after buying an additional 832,432 shares during the period. Vestal Point Capital LP raised its holdings in shares of Immatics by 14.6% during the first quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company's stock valued at $32,439,000 after acquiring an additional 917,700 shares during the period. Finally, Paradigm Biocapital Advisors LP boosted its stake in Immatics by 38.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company's stock worth $38,496,000 after purchasing an additional 1,509,547 shares during the period. 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.