Immatics (NASDAQ:IMTX) Stock Price Up 9.6% - Should You Buy?

Immatics N.V. (NASDAQ:IMTX - Get Free Report)'s stock price rose 9.6% during mid-day trading on Wednesday . The stock traded as high as $6.57 and last traded at $6.51. Approximately 240,722 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 789,167 shares. The stock had previously closed at $5.94.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IMTX shares. Wall Street Zen lowered Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research note on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Immatics in a research note on Wednesday, May 28th. They issued a "buy" rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.67.

Immatics Stock Up 1.7%

The company has a 50 day simple moving average of $5.74 and a two-hundred day simple moving average of $5.11. The company has a market capitalization of $797.37 million, a P/E ratio of -38.59 and a beta of 0.81.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.04. Immatics had a negative return on equity of 4.52% and a negative net margin of 14.73%. The business had revenue of $20.12 million during the quarter, compared to analyst estimates of $14.92 million. As a group, research analysts expect that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Institutional Trading of Immatics

A number of large investors have recently modified their holdings of the company. Suvretta Capital Management LLC purchased a new stake in Immatics during the fourth quarter worth $36,014,000. T. Rowe Price Investment Management Inc. increased its position in shares of 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 worth $66,194,000 after purchasing an additional 4,072,226 shares in the last quarter. Vestal Point Capital LP increased its position in shares of Immatics by 67.3% during the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company's stock worth $44,615,000 after purchasing an additional 2,525,000 shares in the last quarter. Braidwell LP increased its position in shares of Immatics by 112.7% during the fourth quarter. Braidwell LP now owns 3,503,965 shares of the company's stock worth $24,913,000 after purchasing an additional 1,856,400 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP increased its position in shares of Immatics by 38.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company's stock worth $38,496,000 after purchasing an additional 1,509,547 shares in the last quarter. Hedge funds and other 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.