Sofinnova Investments Inc. Buys 1,207,705 Shares of Immatics N.V. $IMTX

Sofinnova Investments Inc. increased its holdings in Immatics N.V. (NASDAQ:IMTX) by 54.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,435,542 shares of the company’s stock after acquiring an additional 1,207,705 shares during the period. Immatics comprises approximately 1.5% of Sofinnova Investments Inc.’s portfolio, making the stock its 20th biggest holding. Sofinnova Investments Inc.’s holdings in Immatics were worth $36,073,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IMTX. Jefferies Financial Group Inc. lifted 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 purchasing an additional 3,864,636 shares during the last quarter. Baker BROS. Advisors LP raised its position in shares of Immatics by 18.9% in the third quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after buying an additional 1,925,193 shares in the last quarter. Millennium Management LLC raised its position in shares of Immatics by 4,991.1% in the third quarter. Millennium Management LLC now owns 721,866 shares of the company’s stock worth $6,150,000 after buying an additional 707,687 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Immatics by 163.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 789,163 shares of the company’s stock valued at $8,286,000 after acquiring an additional 489,163 shares during the last quarter. Finally, State Street Corp increased its stake in Immatics by 103.5% in the fourth quarter. State Street Corp now owns 444,658 shares of the company’s stock valued at $4,669,000 after acquiring an additional 226,157 shares during the last quarter. 64.41% of the stock is owned by institutional investors.

Immatics Trading Up 0.5%

Immatics stock opened at $9.43 on Tuesday. The firm has a 50-day moving average of $10.77 and a 200-day moving average of $10.24. The firm has a market cap of $1.26 billion, a P/E ratio of -4.74 and a beta of 1.30. Immatics N.V. has a 1-year low of $5.05 and a 1-year high of $12.41.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.08). The firm had revenue of $8.81 million for the quarter, compared to the consensus estimate of $9.79 million. Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. Research analysts forecast that Immatics N.V. will post -1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IMTX. Jefferies Financial Group started coverage on Immatics in a research note on Monday, March 16th. They issued a “buy” rating and a $18.00 target price on the stock. Mizuho set a $25.00 target price on shares of Immatics in a report on Thursday, February 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Immatics in a report on Tuesday, June 9th. Chardan Capital reiterated a “buy” rating and set a $25.00 target price on shares of Immatics in a report on Tuesday, May 19th. Finally, TD Cowen assumed coverage on shares of Immatics in a report on Tuesday, April 28th. They set a “buy” rating for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Immatics presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

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.