Immatics N.V. (NASDAQ:IMTX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Immatics N.V. (NASDAQ:IMTX) has received a consensus rating of "Moderate Buy" from analysts, with one sell rating, five buy ratings, and one strong buy rating.
• The company reported a loss of $0.66 earnings per share in its latest quarter, missing estimates and generating only $6.48 million in revenue against $13.05 million expectations.
• Immatics has a market capitalization of $961.46 million and has seen significant interest from hedge funds, with 64.41% of the stock owned by institutional investors.

Shares of Immatics N.V. (NASDAQ:IMTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

IMTX has been the topic of several recent analyst reports. Guggenheim initiated coverage on Immatics in a research report on Thursday, September 18th. They set a "buy" rating and a $16.00 target price on the stock. Zacks Research downgraded Immatics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th.

Immatics Trading Up 2.7%

NASDAQ IMTX opened at $7.91 on Tuesday. The business's 50-day moving average price is $6.17 and its 200 day moving average price is $5.46. Immatics has a twelve month low of $3.30 and a twelve month high of $11.83. The company has a market capitalization of $961.46 million, a PE ratio of -12.17 and a beta of 1.02.

Immatics (NASDAQ:IMTX - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.28). Immatics had a negative return on equity of 15.60% and a negative net margin of 59.29%.The business had revenue of $6.48 million for the quarter, compared to analysts' expectations of $13.05 million. Equities analysts predict that Immatics will post -0.72 EPS for the current year.

Hedge Funds Weigh In On Immatics

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock worth $25,000 after purchasing an additional 2,231 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Immatics in the 2nd quarter worth about $59,000. Intellectus Partners LLC purchased a new position in shares of Immatics in the 1st quarter worth about $70,000. Engineers Gate Manager LP purchased a new position in shares of Immatics in the 2nd quarter worth about $124,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Immatics in the 2nd quarter worth about $136,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.