Wasatch Advisors LP Boosts Stake in Immatics (NASDAQ:IMTX)

Wasatch Advisors LP boosted its position in Immatics (NASDAQ:IMTX - Free Report) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 957,052 shares of the company's stock after buying an additional 84,541 shares during the quarter. Wasatch Advisors LP owned approximately 0.80% of Immatics worth $6,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in IMTX. abrdn plc raised its stake in Immatics by 49.2% in the 4th quarter. abrdn plc now owns 347,379 shares of the company's stock valued at $2,470,000 after acquiring an additional 114,479 shares during the period. State Street Corp lifted its stake in shares of Immatics by 11.2% during the 3rd quarter. State Street Corp now owns 225,202 shares of the company's stock valued at $2,570,000 after buying an additional 22,710 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Immatics in the 4th quarter worth approximately $211,000. Schroder Investment Management Group grew its stake in Immatics by 52.6% in the 4th quarter. Schroder Investment Management Group now owns 427,994 shares of the company's stock valued at $2,953,000 after buying an additional 147,547 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Immatics by 24.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company's stock valued at $163,000 after acquiring an additional 4,477 shares during the period. 64.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Immatics in a report on Tuesday, April 1st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $16.67.

Immatics Stock Performance

NASDAQ IMTX traded up $0.02 on Tuesday, hitting $4.26. The stock had a trading volume of 116,264 shares, compared to its average volume of 650,467. The firm has a 50-day moving average of $4.46 and a 200-day moving average of $6.49. The company has a market capitalization of $517.80 million, a price-to-earnings ratio of -6.45 and a beta of 0.85. Immatics has a 52-week low of $3.30 and a 52-week high of $13.77.

Immatics (NASDAQ:IMTX - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.51. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. The firm had revenue of $15.67 million for the quarter, compared to analysts' expectations of $16.16 million. As a group, research analysts anticipate that Immatics will post -0.72 earnings per share for the current fiscal year.

About Immatics

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.