Immatics (NASDAQ:IMTX) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen lowered shares of Immatics (NASDAQ:IMTX) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

IMTX has been the topic of a number of other reports. Mizuho set a $21.00 target price on Immatics in a research report on Thursday. Jefferies Financial Group set a $17.00 price target on Immatics in a report on Tuesday, August 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Finally, Stifel Nicolaus initiated coverage on Immatics in a research note on Tuesday, October 13th. They set a “buy” rating and a $15.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Immatics Trading Down 1.5%

IMTX opened at $7.20 on Friday. The company has a fifty day simple moving average of $8.25 and a 200 day simple moving average of $9.58. The firm has a market cap of $984.17 million, a price-to-earnings ratio of -3.87 and a beta of 1.36. Immatics has a twelve month low of $6.65 and a twelve month high of $12.41.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). The firm had revenue of $10.44 million for the quarter, compared to analysts’ expectations of $12.42 million. Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%. On average, analysts forecast that Immatics will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Perceptive Advisors Llc acquired 863,060 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $8.69 per share, with a total value of $7,499,991.40. Following the acquisition, the director directly owned 11,246,516 shares in the company, valued at approximately $97,732,224.04. The trade was a 8.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immatics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Immatics by 87.5% during the first quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock worth $250,000 after purchasing an additional 11,848 shares during the last quarter. Doliver Advisors LP bought a new stake in Immatics in the third quarter valued at about $263,000. Engineers Gate Manager LP increased its holdings in Immatics by 26.4% in the second quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock valued at $515,000 after buying an additional 10,638 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Immatics in the first quarter valued at about $742,000. Finally, SummitTX Capital L.P. increased its holdings in Immatics by 56.1% in the first quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock valued at $1,487,000 after buying an additional 54,328 shares during the last quarter. Institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

Immatics N.V. is a biotechnology company developing T cell receptor (TCR)-based immunotherapies for cancer. The company’s approach is designed to recognize cancer-associated targets presented on the surface of tumor cells and activate the immune system against malignant tissue.

Its research and development programs include TCR-engineered T cell therapies, TCR bispecific molecules and other cell-based immunotherapies. Immatics has developed technology platforms intended to identify tumor targets and generate therapeutic TCRs, supporting programs for both solid tumors and blood cancers.