Immatics (NASDAQ:IMTX) Shares Up 4.4% - Time to Buy?

Immatics (NASDAQ:IMTX - Get Free Report)'s share price was up 4.4% during trading on Thursday . The stock traded as high as $6.24 and last traded at $6.22. Approximately 295,627 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 651,305 shares. The stock had previously closed at $5.96.

Analysts Set New Price Targets

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

Immatics Price Performance

The stock has a 50 day moving average of $4.86 and a 200 day moving average of $5.47. The firm has a market cap of $737.81 million, a P/E ratio of -9.15 and a beta of 0.83.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd purchased a new stake in shares of Immatics in the 4th quarter valued at $211,000. Platinum Investment Management Ltd. lifted its stake in Immatics by 53.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 311,722 shares of the company's stock worth $2,216,000 after purchasing an additional 108,108 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Immatics by 24.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company's stock valued at $163,000 after buying an additional 4,477 shares during the period. Schroder Investment Management Group grew its stake in shares of 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 buying an additional 147,547 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Immatics by 7.6% in the fourth 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. 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.