Immatics (NASDAQ:IMTX) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Immatics (NASDAQ:IMTX) from a hold rating to a sell rating in a report released on Sunday morning.

A number of other equities research analysts have also recently commented on the stock. Leerink Partners reissued an “outperform” rating and issued a $17.00 price objective on shares of Immatics in a research note on Thursday, December 4th. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of Immatics in a report on Monday, November 24th. Mizuho increased their price target on shares of Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research note on Wednesday, October 8th. Finally, Guggenheim lifted their price objective on Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.80.

Immatics Trading Down 1.6%

Shares of Immatics stock opened at $9.17 on Friday. The company has a 50-day moving average of $10.06 and a two-hundred day moving average of $8.15. Immatics has a 12-month low of $3.30 and a 12-month high of $12.41. The stock has a market cap of $1.11 billion, a PE ratio of -8.99 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Monday, November 17th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. Immatics had a negative return on equity of 24.16% and a negative net margin of 146.13%.The business had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $12.53 million. On average, sell-side analysts forecast that Immatics will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

Several institutional investors and hedge funds have recently modified their holdings of IMTX. Bank of America Corp DE boosted its position in Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after acquiring an additional 2,231 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Immatics in the 2nd quarter valued at $59,000. Insigneo Advisory Services LLC purchased a new position in shares of Immatics during the 3rd quarter worth $103,000. Engineers Gate Manager LP acquired a new stake in shares of Immatics during the second quarter worth $124,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Immatics during the second quarter worth $136,000. Hedge funds and other 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.