Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume – Time to Buy?

Immatics N.V. (NASDAQ:IMTX) saw unusually-high trading volume on Tuesday . Approximately 666,267 shares traded hands during trading, an increase of 66% from the previous session’s volume of 402,328 shares.The stock last traded at $10.1650 and had previously closed at $10.30.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IMTX. Wall Street Zen downgraded Immatics from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Guggenheim raised their target price on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a report on Thursday, January 22nd. Zacks Research raised shares of Immatics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Chardan Capital reiterated a “buy” rating and set a $25.00 price target on shares of Immatics in a report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.80.

Immatics Price Performance

The firm’s 50 day moving average price is $9.95 and its 200-day moving average price is $8.72. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -9.84 and a beta of 1.36.

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

Hedge Funds Weigh In On Immatics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baker BROS. Advisors LP grew its holdings in shares of Immatics by 18.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after purchasing an additional 1,925,193 shares during the last quarter. Vestal Point Capital LP increased its position in Immatics by 1.6% in the third quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock worth $54,102,000 after purchasing an additional 100,000 shares during the period. Jefferies Financial Group Inc. boosted its stake in Immatics by 323.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 5,059,551 shares of the company’s stock valued at $53,125,000 after acquiring an additional 3,864,636 shares during the last quarter. Sofinnova Investments Inc. lifted its stake in Immatics by 44.1% in the second quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock valued at $12,054,000 after buying an additional 686,224 shares during the period. Finally, Aberdeen Group plc grew its holdings in shares of Immatics by 9.7% in the 3rd quarter. Aberdeen Group plc now owns 789,446 shares of the company’s stock valued at $6,726,000 after buying an additional 69,860 shares during the period. Institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.