Immatics (NASDAQ:IMTX) Stock Price Up 4.8% - Should You Buy?

Key Points

• Immatics shares rose 4.8% to $7.16, though trading volume was 43% below the daily average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with seven Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $19.67.
• The company reported a quarterly loss of $0.53 per share and revenue of $10.44 million, missing analyst estimates for both measures. However, Perceptive Advisors purchased 863,060 shares, and institutional investors own 64.41% of the stock.

Immatics N.V. (NASDAQ:IMTX - Get Free Report) shares traded up 4.8% during trading on Wednesday. The company traded as high as $7.18 and last traded at $7.1550. Approximately 295,229 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 515,800 shares. The stock had previously closed at $6.83.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMTX. Jefferies Financial Group set a $17.00 price objective on shares of Immatics in a research note on Tuesday, August 25th. Wall Street Zen upgraded shares of Immatics from a "sell" rating to a "hold" rating in a report on Saturday, September 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Immatics in a research report on Friday, September 18th. Finally, Stifel Nicolaus began coverage on Immatics in a research report on Tuesday. They set a "buy" rating and a $15.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Immatics currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.67.

Immatics Stock Down 1.0%

The firm has a market cap of $924.02 million, a PE ratio of -3.64 and a beta of 1.36. The stock's fifty day simple moving average is $8.82 and its two-hundred day simple moving average is $9.72.

Immatics (NASDAQ:IMTX - Get Free Report) last issued 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). The company had revenue of $10.44 million for the quarter, compared to the consensus estimate of $12.42 million. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. On average, equities research analysts anticipate that Immatics N.V. will post -2.00 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Perceptive Advisors Llc bought 863,060 shares of the stock in a transaction on Wednesday, August 26th. The shares were bought at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the completion of the acquisition, the director owned 11,246,516 shares in the company, valued at $97,732,224.04. The trade was a 8.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of Immatics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted its holdings in Immatics by 10.7% in the 4th quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company's stock worth $109,026,000 after purchasing an additional 1,000,000 shares in the last quarter. Sofinnova Investments Inc. raised its position in Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company's stock worth $36,073,000 after purchasing an additional 1,207,705 shares during the period. Wellington Management Group LLP lifted its stake in shares of Immatics by 5.5% during the 2nd quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company's stock worth $16,693,000 after acquiring an additional 85,960 shares during the last quarter. Troluce Capital Advisors LLC purchased a new position in Immatics during the 1st quarter valued at $2,460,000. Finally, Tidal Investments LLC grew its stake in Immatics by 0.7% in the second quarter. Tidal Investments LLC now owns 171,499 shares of the company's stock worth $1,737,000 after purchasing an additional 1,110 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company's stock.

Immatics Company Profile

Immatics N.V. NASDAQ: IMTX is a biotechnology company focused on developing T cell receptor (TCR)-based therapies for the treatment of cancer. The company identifies cancer targets and designs treatments intended to direct a patient's immune system toward tumor cells, including solid tumors that may be difficult to address with conventional immunotherapies.

Immatics' technology platforms support several therapeutic approaches, including TCR-engineered T-cell therapies and TCR-based bispecific molecules that can engage both cancer targets and T cells.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.