Immatics (NASDAQ:IMTX) Stock Rating Upgraded by Zacks Research

Key Points

• Immatics' stock rating was upgraded from a "strong sell" to a "hold" by Zacks Research, reflecting a more favorable outlook for investors.
• The company's average consensus rating is a "Moderate Buy" with a target price of $13.67, indicating potential for future growth.
• Immatics reported a quarterly loss of ($0.66) EPS, which fell short of the consensus estimate and has a negative net margin of 59.29%.

Immatics (NASDAQ:IMTX - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immatics in a report on Wednesday, October 8th. Guggenheim initiated coverage on shares of Immatics in a research report on Thursday, September 18th. They set a "buy" rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Immatics presently has an average rating of "Moderate Buy" and a consensus price target of $13.67.

Immatics Price Performance

Shares of Immatics stock opened at $10.17 on Monday. The firm has a market capitalization of $1.24 billion, a PE ratio of -15.65 and a beta of 1.22. The company's fifty day moving average price is $6.87 and its two-hundred day moving average price is $5.82. Immatics has a 52-week low of $3.30 and a 52-week high of $10.95.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly 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 during 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%. Analysts predict that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Immatics

A number of large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its stake in Immatics by 38.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company's stock worth $66,194,000 after purchasing an additional 4,072,226 shares in the last quarter. Vestal Point Capital LP increased its stake in Immatics by 14.6% during the 1st quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company's stock worth $32,439,000 after purchasing an additional 917,700 shares in the last quarter. Sofinnova Investments Inc. increased its stake in Immatics by 44.1% during the 2nd 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 in the last quarter. Wasatch Advisors LP increased its stake in Immatics by 35.9% during the 2nd quarter. Wasatch Advisors LP now owns 785,154 shares of the company's stock worth $4,224,000 after purchasing an additional 207,491 shares in the last quarter. Finally, Aberdeen Group plc increased its stake in Immatics by 107.1% during the 1st quarter. Aberdeen Group plc now owns 719,586 shares of the company's stock worth $3,245,000 after purchasing an additional 372,207 shares in the last quarter. 64.41% of the stock is owned by institutional investors.

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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