Immatics N.V. (NASDAQ:IMTX) Receives $20.80 Average Target Price from Analysts

Shares of Immatics N.V. (NASDAQ:IMTX) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $20.60.

Several analysts recently commented on the company. Wall Street Zen downgraded Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings downgraded Immatics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Chardan Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Immatics in a research report on Tuesday, May 19th. Finally, Jefferies Financial Group set a $17.00 price objective on Immatics in a report on Tuesday.

Immatics Stock Performance

Shares of NASDAQ IMTX opened at $9.36 on Friday. Immatics has a 52-week low of $5.05 and a 52-week high of $12.41. The stock has a market cap of $1.25 billion, a P/E ratio of -5.03 and a beta of 1.33. The firm has a 50 day moving average price of $9.45 and a 200 day moving average price of $10.04.

Immatics (NASDAQ:IMTX) last posted its earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%.The firm had revenue of $10.44 million during the quarter, compared to analyst estimates of $12.42 million. Analysts predict that Immatics will post -2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Perceptive Advisors Llc purchased 863,060 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the completion of the purchase, the director owned 11,246,516 shares in the company, valued at $97,732,224.04. This represents a 8.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Immatics

Several large investors have recently made changes to their positions in the stock. Jefferies Financial Group Inc. lifted its position in Immatics by 323.4% in the 4th 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 in the last quarter. RTW Investments LP increased its holdings in Immatics by 29.7% during the 4th quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock worth $120,050,000 after purchasing an additional 2,617,737 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Immatics by 10.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock worth $225,322,000 after purchasing an additional 2,075,987 shares in the last quarter. Sofinnova Investments Inc. raised its stake in shares of Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock valued at $36,073,000 after purchasing an additional 1,207,705 shares during the period. Finally, Perceptive Advisors LLC raised its stake in shares of Immatics by 10.7% in the 4th quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock valued at $109,026,000 after purchasing an additional 1,000,000 shares during the period. Institutional investors 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.