Immatics N.V. (NASDAQ:IMTX) Receives $15.00 Average PT from Brokerages

Shares of Immatics N.V. (NASDAQ:IMTX) have received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $13.6667.

A number of research analysts have recently issued reports on the company. Guggenheim started coverage on Immatics in a report on Thursday, September 18th. They issued a “buy” rating and a $16.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research report on Saturday, September 27th. Finally, Zacks Research cut shares of Immatics from a “hold” rating to a “strong sell” rating in a report on Friday, August 15th.

Immatics Stock Performance

NASDAQ:IMTX opened at $9.39 on Tuesday. The firm has a 50-day simple moving average of $6.43 and a 200-day simple moving average of $5.59. Immatics has a one year low of $3.30 and a one year high of $11.40. The firm has a market cap of $1.14 billion, a P/E ratio of -14.45 and a beta of 1.22.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.28). The business had revenue of $6.48 million for the quarter, compared to analysts’ expectations of $13.05 million. Immatics had a negative net margin of 59.29% and a negative return on equity of 15.60%. On average, research analysts predict that Immatics will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

Institutional investors and hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its position in shares of Immatics by 38.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company’s stock worth $66,194,000 after purchasing an additional 4,072,226 shares in the last quarter. Vestal Point Capital LP grew its stake in Immatics by 14.6% during the 1st quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company’s stock worth $32,439,000 after buying an additional 917,700 shares during the last quarter. Sofinnova Investments Inc. grew its stake in Immatics by 44.1% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock worth $12,054,000 after buying an additional 686,224 shares during the last quarter. Wasatch Advisors LP increased its position in Immatics by 35.9% during the 2nd quarter. Wasatch Advisors LP now owns 785,154 shares of the company’s stock valued at $4,224,000 after buying an additional 207,491 shares in the last quarter. Finally, Aberdeen Group plc raised its stake in Immatics by 107.1% in the first quarter. Aberdeen Group plc now owns 719,586 shares of the company’s stock valued at $3,245,000 after buying an additional 372,207 shares during the last quarter. 64.41% of the stock is owned by hedge funds and other institutional investors.

About Immatics

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.