Wall Street Zen Upgrades Immatics (NASDAQ:IMTX) to "Hold"

Key Points

• Wall Street Zen upgraded Immatics (NASDAQ:IMTX) from a "sell" to a "hold" in a research note issued Monday.
• Market consensus remains a Moderate Buy with a consensus target price of $19.20; six analysts rate Buy, one Hold and one Sell, and price targets range as high as $25.
• Shares trade around $9.86 (market cap ~$1.2B); Immatics beat March-quarter estimates with EPS of -$0.34 (vs. -$0.48) and revenue of $23M (vs. $12.18M) but remains unprofitable with negative ROE and net margin.

Immatics (NASDAQ:IMTX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Other analysts have also recently issued reports about the company. Leerink Partners reiterated an "outperform" rating and set a $17.00 price target on shares of Immatics in a research report on Thursday, December 4th. Guggenheim raised their price objective on Immatics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Immatics in a report on Thursday, January 22nd. Mizuho set a $25.00 target price on shares of Immatics in a research report on Thursday, February 19th. Finally, Chardan Capital reissued a "buy" rating and issued a $25.00 price target on shares of Immatics in a research note on Monday, November 24th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.20.

Immatics Stock Performance

Shares of IMTX opened at $9.86 on Monday. The business's 50-day moving average is $9.88 and its two-hundred day moving average is $9.22. The company has a market capitalization of $1.20 billion, a P/E ratio of -5.36 and a beta of 1.34. Immatics has a fifty-two week low of $3.30 and a fifty-two week high of $12.41.

Immatics (NASDAQ:IMTX - Get Free Report) last issued its earnings results on Thursday, March 5th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.48) by $0.14. The firm had revenue of $23.00 million for the quarter, compared to the consensus estimate of $12.18 million. Immatics had a negative return on equity of 41.81% and a negative net margin of 411.90%. Analysts forecast that Immatics will post -0.72 EPS for the current year.

Institutional Trading of Immatics

Several large investors have recently added to or reduced their stakes in IMTX. Fox Run Management L.L.C. purchased a new position in shares of Immatics during the 2nd quarter worth $136,000. Aberdeen Group plc grew its holdings in shares of Immatics by 9.7% in the third quarter. Aberdeen Group plc now owns 789,446 shares of the company's stock valued at $6,726,000 after purchasing an additional 69,860 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Immatics by 28.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,894 shares of the company's stock worth $172,000 after purchasing an additional 7,116 shares during the last quarter. TD Asset Management Inc raised its stake in Immatics by 33.1% during the third quarter. TD Asset Management Inc now owns 383,804 shares of the company's stock worth $3,270,000 after purchasing an additional 95,548 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Immatics by 8.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 47,635 shares of the company's stock worth $406,000 after purchasing an additional 3,666 shares during the period. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

About Immatics

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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