Immatics (NASDAQ:IMTX) Shares Up 8% – Here’s Why

Shares of Immatics (NASDAQ:IMTX) rose 8% during mid-day trading on Monday . The stock traded as high as $4.99 and last traded at $5.12. Approximately 511,708 shares changed hands during trading, a decline of 22% from the average daily volume of 655,222 shares. The stock had previously closed at $4.74.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st.

Immatics Price Performance

The stock has a 50-day moving average of $4.48 and a 200 day moving average of $5.82. The company has a market cap of $643.00 million, a P/E ratio of -8.02 and a beta of 0.87.

Immatics (NASDAQ:IMTX) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.04. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. The company had revenue of $20.12 million for the quarter, compared to the consensus estimate of $14.92 million. Sell-side analysts predict that Immatics will post -0.72 EPS for the current year.

Institutional Investors Weigh In On Immatics

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted 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 worth $25,000 after buying an additional 2,231 shares during the period. Virtus ETF Advisers LLC raised its position in shares of Immatics by 34.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after acquiring an additional 2,479 shares in the last quarter. Pale Fire Capital SE lifted its stake in shares of Immatics by 8.9% in the 1st quarter. Pale Fire Capital SE now owns 34,270 shares of the company’s stock valued at $155,000 after purchasing an additional 2,808 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 in the last quarter. Finally, Forefront Analytics LLC grew its stake in Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after purchasing an additional 4,731 shares during the period. Hedge funds and other institutional investors own 64.41% of the company’s stock.

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.