Immatics N.V. (NASDAQ:IMTX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Immatics has a consensus “Moderate Buy” rating from eight brokerages, with six buys, one hold and one sell. The average 12-month price target is $20.80.
• The company reported a quarterly loss of $0.53 per share, missing estimates by $0.06, while revenue of $10.44 million fell short of the $12.42 million consensus forecast.
• Immatics shares opened at $8.55, with a market capitalization of approximately $1.15 billion; institutional investors own 64.41% of the stock after several firms increased their positions.

Shares of Immatics N.V. (NASDAQ:IMTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.80.

IMTX has been the subject of several research analyst reports. Wall Street Zen lowered Immatics from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded Immatics from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, June 23rd. TD Cowen started coverage on Immatics in a research report on Tuesday, April 28th. They issued a "buy" rating for the company. Finally, Chardan Capital restated a "buy" rating and set a $25.00 target price on shares of Immatics in a research note on Tuesday, May 19th.

Immatics Stock Performance

NASDAQ IMTX opened at $8.55 on Friday. Immatics has a 52-week low of $5.05 and a 52-week high of $12.41. The company has a 50-day simple moving average of $9.48 and a 200 day simple moving average of $10.05. The company has a market capitalization of $1.15 billion, a PE ratio of -4.60 and a beta of 1.33.

Immatics (NASDAQ:IMTX - Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. The business had revenue of $10.44 million for the quarter, compared to analysts' expectations of $12.42 million. As a group, analysts forecast that Immatics will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Immatics by 166.0% in the fourth 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. JPMorgan Chase & Co. raised its position in shares of Immatics by 31.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company's stock worth $1,069,000 after acquiring an additional 47,590 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Immatics by 105.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company's stock valued at $420,000 after buying an additional 40,058 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Immatics during the 2nd quarter worth $124,000. Finally, Sofinnova Investments Inc. raised its stake in Immatics by 44.1% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company's stock worth $12,054,000 after acquiring an additional 686,224 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company's stock.

Immatics Company Profile

Immatics N.V. NASDAQ: IMTX is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient's immune system. Immatics' approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics' technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.

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