Immatics (NASDAQ:IMTX) Sees Large Volume Increase – Should You Buy?

Immatics N.V. (NASDAQ:IMTX) saw an uptick in trading volume on Thursday. 1,505,059 shares changed hands during mid-day trading, an increase of 215% from the previous session’s volume of 477,598 shares. The stock last traded at $8.31 and had previously closed at $8.60.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen raised Immatics from a “sell” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group set a $17.00 target price on Immatics in a research note on Tuesday, August 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a report on Friday, September 18th. Six investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.60.

Immatics Price Performance

The company has a market cap of $1.14 billion, a P/E ratio of -4.50 and a beta of 1.33. The company’s 50-day moving average is $9.13 and its two-hundred day moving average is $9.88.

Immatics (NASDAQ:IMTX) last released its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. The business had revenue of $10.44 million during the quarter, compared to the consensus estimate of $12.42 million. Equities research analysts anticipate that Immatics N.V. will post -2 EPS for the current year.

Insider Buying and Selling at Immatics

In other Immatics news, Director Perceptive Advisors Llc purchased 863,060 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average price of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the purchase, the director directly owned 11,246,516 shares of the company’s stock, valued at $97,732,224.04. This trade represents a 8.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immatics

Several large investors have recently bought and sold shares of IMTX. Sofinnova Investments Inc. raised its position in Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock worth $36,073,000 after buying an additional 1,207,705 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Immatics by 10.7% during the 4th quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock valued at $109,026,000 after acquiring an additional 1,000,000 shares during the last quarter. Troluce Capital Advisors LLC purchased a new stake in shares of Immatics during the 1st quarter valued at about $2,460,000. Monashee Investment Management LLC bought a new stake in shares of Immatics in the fourth quarter worth approximately $1,684,000. Finally, Wellington Management Group LLP grew its stake in shares of Immatics by 5.5% in the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock worth $16,693,000 after acquiring an additional 85,960 shares during the period. 64.41% of the stock is currently owned by institutional investors.

Immatics Company Profile

Immatics N.V. is a biopharmaceutical company focused on developing T cell receptor (TCR)-based therapies for cancer. The company aims to identify cancer targets that are presented on the surface of tumor cells and develop treatments that enable T cells to recognize and attack those cells, including targets that may be difficult to address with conventional antibody-based medicines.

Immatics’ technology platforms support two primary approaches: TCR-engineered T-cell therapies, known as TCR-T, and TCR-based bispecific molecules designed to direct patients’ T cells toward tumor cells.