Immatics (NASDAQ:IMTX) Stock Price Up 9.3% – Here’s What Happened

Immatics N.V. (NASDAQ:IMTX) shares shot up 9.3% during mid-day trading on Monday . The stock traded as high as $10.29 and last traded at $10.10. 76,620 shares traded hands during trading, a decline of 84% from the average session volume of 466,125 shares. The stock had previously closed at $9.24.

Analysts Set New Price Targets

IMTX has been the subject of a number of analyst reports. Jefferies Financial Group began coverage on Immatics in a research note on Monday. They issued a “buy” rating for the company. Leerink Partners reissued an “outperform” rating and issued a $17.00 price objective on shares of Immatics in a report on Thursday, December 4th. Chardan Capital reissued a “buy” rating and issued a $25.00 target price on shares of Immatics in a research note on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Immatics from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.20.

Immatics Stock Performance

The business has a fifty day moving average of $9.84 and a two-hundred day moving average of $9.37. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.29 and a beta of 1.34.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.14. Immatics had a negative return on equity of 41.81% and a negative net margin of 411.90%.The business had revenue of $23.00 million during the quarter, compared to the consensus estimate of $12.18 million. As a group, sell-side analysts predict that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IMTX. T. Rowe Price Investment Management Inc. lifted its position in Immatics by 10.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock worth $225,322,000 after acquiring an additional 2,075,987 shares during the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of Immatics by 18.9% during the third quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after acquiring an additional 1,925,193 shares during the period. RTW Investments LP grew its position in shares of Immatics by 29.7% in the fourth quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock valued at $120,050,000 after purchasing an additional 2,617,737 shares during the last quarter. Perceptive Advisors LLC increased its stake in shares of Immatics by 10.7% during the fourth 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 during the period. Finally, Vestal Point Capital LP increased its stake in shares of Immatics by 1.6% during the third quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock worth $54,102,000 after purchasing an additional 100,000 shares during the period. 64.41% of the stock is owned by 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.