Analysts Set Immatics N.V. (NASDAQ:IMTX) PT at $20.80

Immatics N.V. (NASDAQ:IMTX) has received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.80.

Several brokerages have recently commented on IMTX. TD Cowen assumed coverage on shares of Immatics in a research report on Tuesday, April 28th. They set a “buy” rating on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Immatics in a report on Tuesday, May 19th. Wall Street Zen lowered Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group initiated coverage on Immatics in a research report on Monday, March 16th. They set a “buy” rating and a $18.00 target price for the company.

Immatics Trading Up 0.3%

Shares of IMTX stock opened at $10.02 on Thursday. Immatics has a 12 month low of $5.05 and a 12 month high of $12.41. The stock has a market cap of $1.34 billion, a P/E ratio of -5.03 and a beta of 1.32. The company has a 50 day simple moving average of $10.45 and a two-hundred day simple moving average of $10.18.

Immatics (NASDAQ:IMTX) last released its earnings results on Tuesday, May 12th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). Immatics had a negative return on equity of 47.36% and a negative net margin of 572.35%.The firm had revenue of $8.81 million for the quarter, compared to the consensus estimate of $9.79 million. As a group, equities analysts forecast that Immatics will post -1.67 earnings per share for the current year.

Institutional Trading of Immatics

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after buying an additional 2,231 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Immatics by 31.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company’s stock worth $1,069,000 after acquiring an additional 47,590 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Immatics by 105.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company’s stock worth $420,000 after acquiring an additional 40,058 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Immatics during the 2nd quarter worth about $124,000. Finally, Sofinnova Investments Inc. boosted its stake in shares of Immatics by 44.1% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock worth $12,054,000 after purchasing an additional 686,224 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.