Orbimed Advisors LLC Boosts Holdings in Immatics (NASDAQ:IMTX)

Orbimed Advisors LLC increased its holdings in Immatics (NASDAQ:IMTX) by 53.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,087,462 shares of the company’s stock after purchasing an additional 1,081,081 shares during the period. Orbimed Advisors LLC’s holdings in Immatics were worth $21,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. abrdn plc lifted its stake in shares of Immatics by 49.2% in the 4th quarter. abrdn plc now owns 347,379 shares of the company’s stock valued at $2,470,000 after acquiring an additional 114,479 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Immatics in the 4th quarter worth approximately $211,000. Platinum Investment Management Ltd. lifted its position in Immatics by 53.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 311,722 shares of the company’s stock valued at $2,216,000 after purchasing an additional 108,108 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Immatics by 24.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,701 shares of the company’s stock valued at $163,000 after purchasing an additional 4,477 shares during the period. Finally, Schroder Investment Management Group boosted its stake in shares of Immatics by 52.6% during the fourth quarter. Schroder Investment Management Group now owns 427,994 shares of the company’s stock valued at $2,953,000 after purchasing an additional 147,547 shares during the period. Institutional investors own 64.41% of the company’s stock.

Immatics Price Performance

IMTX opened at $4.56 on Tuesday. Immatics has a one year low of $3.30 and a one year high of $13.77. The business has a 50 day simple moving average of $4.48 and a two-hundred day simple moving average of $5.95. The firm has a market capitalization of $554.27 million, a price-to-earnings ratio of -6.91 and a beta of 0.87.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.51. The company had revenue of $15.67 million during the quarter, compared to analyst estimates of $16.16 million. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. As a group, sell-side analysts expect that Immatics will post -0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Company Profile

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.