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

Shares of Immatics N.V. (NASDAQ:IMTX - Get Free Report) have been given an average recommendation of "Buy" by the five brokerages that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.67.

Several research firms recently commented on IMTX. Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research report on Tuesday, April 1st. Wall Street Zen cut shares of Immatics from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Immatics in a report on Wednesday, May 28th. They set a "buy" rating and a $10.00 target price on the stock.

Immatics Price Performance

NASDAQ:IMTX traded down $0.21 during midday trading on Thursday, reaching $6.00. 187,783 shares of the company traded hands, compared to its average volume of 679,651. Immatics has a twelve month low of $3.30 and a twelve month high of $13.09. The company has a fifty day moving average price of $5.54 and a 200 day moving average price of $5.18. The firm has a market capitalization of $729.30 million, a price-to-earnings ratio of -35.29 and a beta of 0.81.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Suvretta Capital Management LLC purchased a new stake in shares of Immatics during the fourth quarter valued at $36,014,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Immatics by 38.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company's stock valued at $66,194,000 after purchasing an additional 4,072,226 shares in the last quarter. Vestal Point Capital LP raised its position in Immatics by 67.3% during the fourth quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company's stock valued at $44,615,000 after buying an additional 2,525,000 shares during the period. Braidwell LP grew its stake in Immatics by 112.7% during the 4th quarter. Braidwell LP now owns 3,503,965 shares of the company's stock valued at $24,913,000 after acquiring an additional 1,856,400 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its holdings 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 during the period. Institutional investors and hedge funds own 64.41% of the company's stock.

Immatics Company Profile

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.