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

Key Points

• Analysts assign Immatics a “Moderate Buy” consensus: Six of eight analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $20.80, well above the recent $9.08 share price.
• Institutional ownership remains substantial: Institutional investors and hedge funds own 64.41% of Immatics, with several firms—including Bank of America, JPMorgan and Sofinnova Investments—recently increasing their stakes.
• Recent financial results fell short of expectations: Immatics reported a quarterly loss of $0.50 per share versus the expected $0.42 loss, while revenue of $8.81 million missed the $9.79 million consensus estimate. Analysts expect a full-year loss of $1.67 per share.

Shares of Immatics N.V. (NASDAQ:IMTX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.80.

A number of analysts recently commented on the stock. Weiss Ratings cut shares of Immatics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, June 23rd. Chardan Capital restated a "buy" rating and set a $25.00 price target on shares of Immatics in a research note on Tuesday, May 19th. Wall Street Zen cut shares of Immatics from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, TD Cowen assumed coverage on shares of Immatics in a research note on Tuesday, April 28th. They set a "buy" rating for the company.

Institutional Trading of Immatics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMTX. Bank of America Corp DE grew its stake in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock valued at $25,000 after purchasing an additional 2,231 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Immatics by 31.5% in the second quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company's stock worth $1,069,000 after purchasing an additional 47,590 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Immatics by 105.2% during the second quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company's stock worth $420,000 after purchasing an additional 40,058 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Immatics during the second quarter worth about $124,000. Finally, Sofinnova Investments Inc. lifted its holdings in shares of Immatics by 44.1% during the second quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company's stock worth $12,054,000 after purchasing an additional 686,224 shares during the period. Institutional investors and hedge funds own 64.41% of the company's stock.

Immatics Stock Performance

Shares of Immatics stock opened at $9.08 on Monday. The stock's fifty day moving average price is $9.97 and its 200-day moving average price is $10.11. The firm has a market cap of $1.22 billion, a P/E ratio of -4.56 and a beta of 1.32. Immatics has a 12 month low of $5.05 and a 12 month high of $12.41.

Immatics (NASDAQ:IMTX - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.08). The company had revenue of $8.81 million for the quarter, compared to analysts' expectations of $9.79 million. Immatics had a negative return on equity of 47.36% and a negative net margin of 572.35%. Analysts forecast that Immatics will post -1.67 earnings per share for the current year.

About Immatics

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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