Deutsche Bank Aktiengesellschaft Initiates Coverage on Immatics (NASDAQ:IMTX)

Investment analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Immatics (NASDAQ:IMTX) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $10.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 97.90% from the stock’s previous close.

A number of other research firms have also recently issued reports on IMTX. Wall Street Zen cut shares of Immatics from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Immatics in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Immatics currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.67.

Immatics Stock Performance

Shares of NASDAQ:IMTX traded up $0.12 on Wednesday, hitting $5.05. The company’s stock had a trading volume of 31,433 shares, compared to its average volume of 650,572. The company has a market capitalization of $614.19 million, a price-to-earnings ratio of -7.65 and a beta of 0.87. The stock’s 50-day moving average is $4.51 and its two-hundred day moving average is $5.64. Immatics has a 12 month low of $3.30 and a 12 month high of $13.77.

Immatics (NASDAQ:IMTX) last announced its earnings results on Tuesday, May 13th. The company reported ($0.35) EPS 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 business had revenue of $20.12 million during the quarter, compared to the consensus estimate of $14.92 million. Equities analysts expect that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Immatics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of 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 in the last quarter. Virtus ETF Advisers LLC lifted its stake in shares of Immatics by 34.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after acquiring an additional 2,479 shares during the period. Intellectus Partners LLC acquired a new position in shares of Immatics during the first quarter valued at $70,000. Guggenheim Capital LLC acquired a new position in shares of Immatics during the fourth quarter valued at $101,000. Finally, Forefront Analytics LLC lifted its stake in shares of Immatics by 42.3% during the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after acquiring an additional 4,731 shares during the period. Institutional investors and hedge funds 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.