Immatics (NASDAQ:IMTX) Shares Gap Up – Here’s What Happened

Immatics N.V. (NASDAQ:IMTX)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $10.26, but opened at $10.71. Immatics shares last traded at $10.2410, with a volume of 146,005 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IMTX shares. Chardan Capital restated a “buy” rating and set a $25.00 price target on shares of Immatics in a report on Tuesday, May 19th. Weiss Ratings cut Immatics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Wall Street Zen cut Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Jefferies Financial Group initiated coverage on Immatics in a research report on Monday, March 16th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, TD Cowen assumed coverage on Immatics in a research note on Tuesday, April 28th. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Immatics Trading Down 3.1%

The company has a market capitalization of $1.33 billion, a PE ratio of -5.00 and a beta of 1.32. The business has a fifty day moving average of $10.43 and a 200 day moving average of $10.18.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). The business had revenue of $8.81 million during the quarter, compared to analyst estimates of $9.79 million. Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. Equities analysts forecast that Immatics N.V. will post -1.67 EPS for the current fiscal year.

Institutional Trading of Immatics

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares during the period. Quarry LP acquired a new stake in Immatics in the 4th quarter valued at about $84,000. Engineers Gate Manager LP purchased a new position in shares of Immatics in the 2nd quarter valued at about $124,000. Fox Run Management L.L.C. purchased a new position in shares of Immatics in the 4th quarter valued at about $129,000. Finally, Graham Capital Management L.P. acquired a new position in shares of Immatics during the fourth quarter worth about $206,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.