Immatics (NASDAQ:IMTX) Trading Up 4.1% - Time to Buy?

Immatics (NASDAQ:IMTX - Get Free Report) shot up 4.1% on Wednesday . The company traded as high as $5.07 and last traded at $5.13. 54,629 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 650,607 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IMTX shares. Deutsche Bank Aktiengesellschaft began coverage on Immatics in a research note on Wednesday. They set a "buy" rating and a $10.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Immatics in a report on Tuesday, April 1st. Finally, Wall Street Zen lowered shares of Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One investment 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 stock. According to data from MarketBeat, Immatics presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.67.

Immatics Stock Up 2.4%

The company has a market capitalization of $677.03 million, a P/E ratio of -8.44 and a beta of 0.87. The business has a 50 day moving average of $4.54 and a 200 day moving average of $5.57.

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

Hedge Funds Weigh In On Immatics

Several institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP increased its holdings in shares of Immatics by 14.6% in the 1st quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company's stock worth $32,439,000 after buying an additional 917,700 shares during the last quarter. Trexquant Investment LP bought a new stake in Immatics during the first quarter worth approximately $783,000. Pale Fire Capital SE increased its stake in Immatics by 8.9% during the first quarter. Pale Fire Capital SE now owns 34,270 shares of the company's stock worth $155,000 after acquiring an additional 2,808 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position 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 period. Finally, Algert Global LLC lifted its stake in shares of Immatics by 20.6% in the 1st quarter. Algert Global LLC now owns 70,668 shares of the company's stock valued at $319,000 after purchasing an additional 12,072 shares during the last quarter. Institutional investors 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.