Immatics (NASDAQ:IMTX - Get Free Report) shares rose 4.1% during trading on Wednesday . The stock traded as high as $5.07 and last traded at $5.13. Approximately 54,629 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 650,607 shares. The stock had previously closed at $4.93.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on IMTX. Deutsche Bank Aktiengesellschaft started coverage on shares of Immatics in a research report on Wednesday. They set a "buy" rating and a $10.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Immatics in a research note on Tuesday, April 1st. Finally, Wall Street Zen lowered shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.67.
Read Our Latest Report on IMTX
Immatics Price Performance
The company has a market capitalization of $619.91 million, a price-to-earnings ratio of -7.74 and a beta of 0.87. The stock's fifty day simple moving average is $4.51 and its two-hundred day simple moving average is $5.64.
Immatics (NASDAQ:IMTX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.04. The firm had revenue of $20.12 million for the quarter, compared to the consensus estimate of $14.92 million. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. On average, sell-side analysts predict that Immatics will post -0.72 EPS for the current year.
Institutional Investors Weigh In On Immatics
Several hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its holdings in Immatics by 38.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company's stock valued at $66,194,000 after purchasing an additional 4,072,226 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Immatics by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 10,417,892 shares of the company's stock valued at $74,071,000 after buying an additional 736,709 shares in the last quarter. Baker BROS. Advisors LP raised its stake in Immatics by 12.9% during the fourth quarter. Baker BROS. Advisors LP now owns 7,275,830 shares of the company's stock valued at $51,731,000 after purchasing an additional 832,432 shares in the last quarter. Vestal Point Capital LP increased its stake in Immatics by 14.6% during 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 during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its holdings in Immatics by 38.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company's stock valued at $38,496,000 after buying an additional 1,509,547 shares during the period. 64.41% of the stock is currently owned by institutional investors and hedge funds.
About Immatics
(
Get Free Report)
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.
Further Reading
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