Immatics (NASDAQ:IMTX) Shares Gap Up - Here's What Happened

Immatics (NASDAQ:IMTX - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.14, but opened at $4.48. Immatics shares last traded at $4.23, with a volume of 24,103 shares changing hands.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued an "overweight" rating on shares of Immatics in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $16.67.

Immatics Trading Up 3.6 %

The company's 50-day moving average is $4.48 and its two-hundred day moving average is $6.59. The stock has a market capitalization of $517.80 million, a P/E ratio of -6.45 and a beta of 0.85.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.51. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. The company had revenue of $15.67 million during the quarter, compared to analyst estimates of $16.16 million. Sell-side analysts expect that Immatics will post -0.72 EPS for the current fiscal year.

Institutional Trading of Immatics

Institutional investors have recently made changes to their positions in the stock. abrdn plc boosted its stake in Immatics by 49.2% during the 4th quarter. abrdn plc now owns 347,379 shares of the company's stock valued at $2,470,000 after purchasing an additional 114,479 shares in the last quarter. State Street Corp grew its stake in shares of Immatics by 11.2% in the 3rd quarter. State Street Corp now owns 225,202 shares of the company's stock worth $2,570,000 after purchasing an additional 22,710 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Immatics in the 4th quarter worth approximately $211,000. Schroder Investment Management Group lifted its stake in Immatics by 52.6% during the fourth quarter. Schroder Investment Management Group now owns 427,994 shares of the company's stock valued at $2,953,000 after purchasing an additional 147,547 shares during the last quarter. Finally, Platinum Investment Management Ltd. boosted its holdings in Immatics by 53.1% during the fourth quarter. Platinum Investment Management Ltd. now owns 311,722 shares of the company's stock worth $2,216,000 after buying an additional 108,108 shares in the last quarter. 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.