Immatics (NASDAQ:IMTX) Trading Up 8% - Here's What Happened

Key Points

• Immatics N.V. (NASDAQ:IMTX) shares rose by 8% during mid-day trading, reaching a high of $5.42 before closing at $5.50, despite a decline in trading volume compared to the daily average.
• Recent research indicates a mixed outlook for Immatics, with ratings varying from "Strong Buy" to "Strong Sell," resulting in an average rating of "Moderate Buy" and a target price of $14.67.
• Immatics reported a quarterly loss of $0.66 EPS, missing analysts' expectations, and forecasted an EPS of -0.72 for the current year, reflecting challenges in revenue generation.

Immatics N.V. (NASDAQ:IMTX - Get Free Report)'s share price rose 8% during trading on Tuesday . The company traded as high as $5.42 and last traded at $5.50. Approximately 754,615 shares were traded during trading, a decline of 1% from the average daily volume of 764,252 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

IMTX has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Immatics in a research report on Wednesday, May 28th. They set a "buy" rating and a $10.00 price objective on the stock. Wall Street Zen downgraded Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Finally, Zacks Research downgraded Immatics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.67.

Immatics Price Performance

The firm has a 50 day simple moving average of $5.95 and a 200-day simple moving average of $5.23. The company has a market cap of $760.90 million, a price-to-earnings ratio of -9.63 and a beta of 1.02.

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

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMTX. Bank of America Corp DE grew its stake in shares of Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after buying an additional 2,231 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Immatics in the second quarter valued at $59,000. Intellectus Partners LLC acquired a new stake in shares of Immatics in the first quarter valued at $70,000. Forefront Analytics LLC grew its stake in shares of Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock valued at $113,000 after buying an additional 4,731 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of Immatics in the fourth quarter valued at $130,000. Institutional investors and hedge funds own 64.41% of the company's stock.

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.