Immatics (NASDAQ:IMTX) Shares Up 2.9% - Time to Buy?

Shares of Immatics N.V. (NASDAQ:IMTX - Get Free Report) shot up 2.9% during trading on Wednesday . The stock traded as high as $6.19 and last traded at $6.13. 528,300 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 681,326 shares. The stock had previously closed at $5.96.

Wall Street Analyst Weigh In

Several research firms recently commented on IMTX. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immatics in a research report on Tuesday, April 1st. Wall Street Zen cut shares of Immatics from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Immatics in a research note on Wednesday, May 28th. They set a "buy" rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Immatics presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.67.

Immatics Price Performance

The firm has a market cap of $729.30 million, a price-to-earnings ratio of -35.29 and a beta of 0.81. The business's 50-day moving average price is $5.58 and its two-hundred day moving average price is $5.17.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data 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. Immatics had a negative return on equity of 4.52% and a negative net margin of 14.73%. The firm had revenue of $20.12 million for the quarter, compared to analysts' expectations of $14.92 million. Equities analysts predict that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock worth $25,000 after purchasing an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC increased its stake in Immatics by 34.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock worth $68,000 after purchasing an additional 2,479 shares in the last quarter. Pale Fire Capital SE grew its stake in Immatics by 8.9% during the 1st quarter. Pale Fire Capital SE now owns 34,270 shares of the company's stock valued at $155,000 after acquiring an additional 2,808 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Immatics by 24.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company's stock valued at $163,000 after acquiring an additional 4,477 shares in the last quarter. Finally, Forefront Analytics LLC grew its stake in Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock valued at $113,000 after acquiring an additional 4,731 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

About Immatics

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.