Immatics (NASDAQ:IMTX) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Immatics (NASDAQ:IMTX) from a hold rating to a sell rating in a report released on Sunday.

A number of other research firms have also commented on IMTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Wednesday, October 8th. Chardan Capital reiterated a “buy” rating and set a $25.00 price target on shares of Immatics in a report on Monday, November 24th. Mizuho increased their price objective on Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Zacks Research upgraded shares of Immatics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Guggenheim increased their price target on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Immatics currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Immatics Stock Up 2.4%

NASDAQ:IMTX opened at $9.38 on Friday. The company’s 50 day moving average is $10.05 and its 200-day moving average is $8.20. Immatics has a 12 month low of $3.30 and a 12 month high of $12.41. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -9.20 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last posted its earnings results on Monday, November 17th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. The business had revenue of $6.10 million for the quarter, compared to analyst estimates of $12.53 million. Immatics had a negative net margin of 146.13% and a negative return on equity of 24.16%. Research analysts predict that Immatics will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently made changes to their positions in IMTX. Bank of America Corp DE boosted its position in shares of Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after acquiring an additional 2,231 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Immatics by 8.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 47,635 shares of the company’s stock worth $406,000 after purchasing an additional 3,666 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Immatics by 28.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,894 shares of the company’s stock valued at $172,000 after purchasing an additional 7,116 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Immatics during the second quarter valued at approximately $59,000. Finally, Insigneo Advisory Services LLC bought a new stake in shares of Immatics in the 3rd quarter valued at approximately $103,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.