Insider Buying: Immatics (NASDAQ:IMTX) Director Purchases 863,060 Shares of Stock

Key Points

• Perceptive Advisors purchased 863,060 Immatics shares at an average price of $8.69, investing approximately $7.5 million and increasing its ownership by 8.31% to 11.25 million shares.
• Immatics shares fell 0.7% to $9.36, while the company reported quarterly EPS of negative $0.53 and revenue of $10.44 million, both below analyst expectations.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $20.60, although ratings include both Buy and Sell recommendations; institutional investors own 64.41% of the stock.

Immatics N.V. (NASDAQ:IMTX - Get Free Report) Director Perceptive Advisors Llc bought 863,060 shares of Immatics stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the acquisition, the director owned 11,246,516 shares of the company's stock, valued at $97,732,224.04. This represents a 8.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Immatics Stock Down 0.7%

Immatics stock traded down $0.07 during trading on Thursday, reaching $9.36. The stock had a trading volume of 741,776 shares, compared to its average volume of 466,019. Immatics N.V. has a 52-week low of $5.05 and a 52-week high of $12.41. The business has a 50 day moving average price of $9.46 and a 200 day moving average price of $10.04. The stock has a market cap of $1.25 billion, a PE ratio of -5.03 and a beta of 1.33.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $10.44 million during the quarter, compared to analysts' expectations of $12.42 million. On average, equities analysts predict that Immatics N.V. will post -2 EPS for the current fiscal year.

Analyst Ratings Changes

IMTX has been the topic of a number of analyst reports. Wall Street Zen cut Immatics from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Jefferies Financial Group set a $17.00 price target on Immatics in a report on Tuesday. Weiss Ratings downgraded Immatics from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, June 23rd. Finally, Chardan Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Immatics in a report on Tuesday, May 19th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.60.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently bought and sold shares of IMTX. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Immatics by 3.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 49,374 shares of the company's stock valued at $518,000 after purchasing an additional 1,739 shares during the last quarter. Bank of America Corp DE boosted its position 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 valued at $25,000 after purchasing an additional 2,231 shares during the period. Barclays PLC grew its stake in Immatics by 11.4% during the 4th quarter. Barclays PLC now owns 28,185 shares of the company's stock worth $296,000 after buying an additional 2,874 shares during the last quarter. Virtus Investment Advisers LLC grew its stake in Immatics by 43.0% during the 4th quarter. Virtus Investment Advisers LLC now owns 26,497 shares of the company's stock worth $278,000 after buying an additional 7,965 shares during the last quarter. Finally, Quarry LP acquired a new position in Immatics during the fourth quarter worth approximately $84,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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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