Immatics (NASDAQ:IMTX) Shares Gap Up - What's Next?

Key Points

• Immatics shares jumped 8.7%, opening at $9.59 versus a prior close of $8.69, with 167,701 shares traded.
• Analyst sentiment is generally positive: six analysts rate the stock Buy, one Hold, and one Sell. The consensus price target is $20.80, including Chardan Capital’s $25 target.
• The clinical-stage biotech reported weaker-than-expected quarterly results, with an adjusted loss of $0.53 per share versus a $0.47 consensus loss and revenue of $10.44 million versus $12.42 million expected.

Immatics N.V. (NASDAQ:IMTX - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.69, but opened at $9.59. Immatics shares last traded at $9.59, with a volume of 167,701 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Immatics from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. TD Cowen began coverage on shares of Immatics in a research note on Tuesday, April 28th. They set a "buy" rating on the stock. Weiss Ratings downgraded shares of Immatics from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, June 23rd. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $25.00 target price on shares of Immatics in a report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.80.

Immatics Trading Up 8.7%

The firm has a 50 day moving average of $9.46 and a 200-day moving average of $10.03. The company has a market cap of $1.27 billion, a P/E ratio of -5.09 and a beta of 1.33.

Immatics (NASDAQ:IMTX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%.The business had revenue of $10.44 million during the quarter, compared to the consensus estimate of $12.42 million. Equities analysts predict that Immatics N.V. will post -1.84 EPS for the current fiscal year.

Institutional Trading of Immatics

A number of institutional investors and hedge funds have recently bought and sold shares of IMTX. Wellington Management Group LLP grew its position in shares of Immatics by 5.5% during the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company's stock valued at $16,693,000 after purchasing an additional 85,960 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Immatics by 87.5% in the first quarter. Bank of America Corp DE now owns 25,394 shares of the company's stock worth $250,000 after buying an additional 11,848 shares in the last quarter. SummitTX Capital L.P. lifted its position in shares of Immatics by 56.1% in the first quarter. SummitTX Capital L.P. now owns 151,112 shares of the company's stock worth $1,487,000 after buying an additional 54,328 shares in the last quarter. Troluce Capital Advisors LLC bought a new position in Immatics during the first quarter valued at approximately $2,460,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Immatics during the 1st quarter valued at approximately $742,000. 64.41% of the stock is currently owned by institutional investors.

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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