Immatics (NASDAQ:IMTX) Trading Up 6.7% - Still a Buy?

Key Points

• Immatics N.V. (NASDAQ: IMTX) saw its stock price rise by 6.7% to $7.52, although trading volume decreased by 69% compared to the average session.
• Analysts have mixed views on the stock, with Zacks lowering its rating to a "strong sell" while Guggenheim issued a "buy" rating with a target price of $16.00, leading to a consensus rating of "Moderate Buy".
• The company's recent quarterly earnings showed a loss of ($0.66) EPS against an estimated ($0.38), highlighting a negative net margin of 59.29%.

Immatics N.V. (NASDAQ:IMTX - Get Free Report)'s stock price traded up 6.7% during trading on Friday . The stock traded as high as $7.57 and last traded at $7.52. 237,178 shares changed hands during trading, a decline of 69% from the average session volume of 768,386 shares. The stock had previously closed at $7.05.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Zacks Research lowered Immatics from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Guggenheim initiated coverage on Immatics in a research report on Thursday, September 18th. They issued a "buy" rating and a $16.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

Immatics Price Performance

The stock has a market cap of $935.94 million, a PE ratio of -11.85 and a beta of 1.02. The business has a fifty day moving average of $6.10 and a 200 day moving average of $5.40.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data 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). Immatics had a negative net margin of 59.29% and a negative return on equity of 15.60%. The firm had revenue of $6.48 million for the quarter, compared to analyst estimates of $13.05 million. On average, equities research analysts expect that Immatics N.V. will post -0.72 EPS for the current year.

Institutional Trading of Immatics

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after acquiring an additional 2,231 shares during the period. Vontobel Holding Ltd. bought a new position in Immatics during the 2nd quarter valued at $59,000. Intellectus Partners LLC bought a new position in Immatics during the 1st quarter valued at $70,000. Engineers Gate Manager LP acquired a new stake in shares of Immatics in the second quarter worth $124,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Immatics in the second quarter worth $136,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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