Immatics (NASDAQ:IMTX) Shares Up 8.8% - Still a Buy?

Key Points

• Immatics (NASDAQ:IMTX) shares increased by 8.8% to last trade at $6.56, with trading volume significantly down to 145,536 shares from an average of 773,455.
• Wall Street analysts have mixed ratings for Immatics, with a consensus rating of "Moderate Buy" and an average price target of $15.00, despite some firms downgrading the stock.
• Immatics reported quarterly earnings showing a loss of ($0.66) per share, missing estimates, with expected consensus for the current fiscal year at -$0.72 EPS.

Immatics N.V. (NASDAQ:IMTX - Get Free Report)'s stock price shot up 8.8% on Thursday . The stock traded as high as $6.76 and last traded at $6.56. 145,536 shares traded hands during trading, a decline of 81% from the average session volume of 773,455 shares. The stock had previously closed at $6.03.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IMTX. Zacks Research lowered Immatics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. Deutsche Bank Aktiengesellschaft began coverage on Immatics in a report on Wednesday, May 28th. They set a "buy" rating and a $10.00 price target on the stock. Guggenheim began coverage on Immatics in a report on Thursday. They set a "buy" rating and a $16.00 price target on the stock. Finally, Wall Street Zen lowered Immatics from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Immatics Price Performance

The business has a 50-day moving average of $5.99 and a two-hundred day moving average of $5.30. The company has a market cap of $791.41 million, a P/E ratio of -10.01 and a beta of 1.02.

Immatics (NASDAQ:IMTX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.28). The company had revenue of $6.48 million for the quarter, compared to the consensus estimate of $13.05 million. Immatics had a negative net margin of 59.29% and a negative return on equity of 15.60%. Equities analysts anticipate that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several institutional investors have recently added to or reduced their stakes in IMTX. T. Rowe Price Investment Management Inc. boosted its holdings in Immatics by 38.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company's stock worth $66,194,000 after acquiring an additional 4,072,226 shares in the last quarter. Vestal Point Capital LP boosted its holdings in Immatics by 14.6% in the first quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company's stock worth $32,439,000 after acquiring an additional 917,700 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in Immatics by 58.6% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,147,911 shares of the company's stock worth $15,272,000 after acquiring an additional 793,200 shares in the last quarter. Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 736,709 shares in the last quarter. Finally, Sofinnova Investments Inc. raised its stake in shares of Immatics by 44.1% in the second quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company's stock worth $12,054,000 after purchasing an additional 686,224 shares during the last quarter. Institutional investors and hedge funds 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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