Immatics (NASDAQ:IMTX) Shares Up 4.8% – Here’s What Happened

Shares of Immatics N.V. (NASDAQ:IMTX) shot up 4.8% on Wednesday. The stock traded as high as $7.18 and last traded at $7.1550. 295,229 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 515,800 shares. The stock had previously closed at $6.83.

Analysts Set New Price Targets

A number of research firms recently weighed in on IMTX. Stifel Nicolaus began coverage on shares of Immatics in a research note on Tuesday. They issued a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a report on Tuesday, August 25th. Finally, Wall Street Zen raised shares of Immatics from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Immatics Stock Performance

The stock has a fifty day moving average price of $8.72 and a 200-day moving average price of $9.68. The firm has a market capitalization of $975.97 million, a PE ratio of -3.84 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) EPS 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 company had revenue of $10.44 million during the quarter, compared to the consensus estimate of $12.42 million. Research analysts expect that Immatics N.V. will post -2.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Perceptive Advisors Llc bought 863,060 shares of Immatics stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the acquisition, the director 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Immatics

A number of institutional investors have recently modified their holdings of IMTX. Perceptive Advisors LLC grew its position 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 worth $109,026,000 after buying an additional 1,000,000 shares during the last quarter. Wellington Management Group LLP lifted its position in Immatics by 5.5% during the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock valued at $16,693,000 after acquiring an additional 85,960 shares during the last quarter. Troluce Capital Advisors LLC acquired a new stake in Immatics in the first quarter valued at approximately $2,460,000. Tidal Investments LLC boosted its stake in Immatics by 0.7% in the second quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock valued at $1,737,000 after acquiring an additional 1,110 shares in the last quarter. Finally, SummitTX Capital L.P. boosted its stake in Immatics by 56.1% in the first quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock valued at $1,487,000 after acquiring an additional 54,328 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

Immatics Company Profile

Immatics N.V. (NASDAQ: IMTX) is a biotechnology company focused on developing T cell receptor (TCR)-based therapies for the treatment of cancer. The company identifies cancer targets and designs treatments intended to direct a patient’s immune system toward tumor cells, including solid tumors that may be difficult to address with conventional immunotherapies.

Immatics’ technology platforms support several therapeutic approaches, including TCR-engineered T-cell therapies and TCR-based bispecific molecules that can engage both cancer targets and T cells.