Immatics N.V. (NASDAQ:IMTX) Given Consensus Rating of “Moderate Buy” by Brokerages

Immatics N.V. (NASDAQ:IMTX) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.80.

A number of research analysts have commented on IMTX shares. Wall Street Zen cut Immatics from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Zacks Research raised Immatics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Leerink Partners reissued an “outperform” rating and set a $17.00 price target on shares of Immatics in a research report on Thursday, December 4th. Mizuho upped their target price on shares of Immatics from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, Guggenheim raised their price target on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP raised its position in Immatics by 18.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock valued at $103,042,000 after purchasing an additional 1,925,193 shares in the last quarter. Vestal Point Capital LP raised its holdings in Immatics by 1.6% in the third quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock valued at $54,102,000 after acquiring an additional 100,000 shares in the last quarter. Sofinnova Investments Inc. lifted its stake in Immatics by 44.1% in the second quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock worth $12,054,000 after acquiring an additional 686,224 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Immatics during the 3rd quarter worth approximately $10,181,000. Finally, Aberdeen Group plc raised its holdings in shares of Immatics by 9.7% in the 3rd 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 in the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

Immatics Trading Up 12.4%

Shares of IMTX opened at $9.63 on Monday. The company’s 50-day moving average price is $9.95 and its 200 day moving average price is $8.65. Immatics has a 12-month low of $3.30 and a 12-month high of $12.41. The firm has a market cap of $1.17 billion, a P/E ratio of -9.44 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Monday, November 17th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. Immatics had a negative net margin of 146.13% and a negative return on equity of 24.16%. The business had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $12.53 million. Equities research analysts forecast that Immatics will post -0.72 earnings per share for the current year.

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.