Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Immatics N.V. (NASDAQ:IMTX) saw unusually-strong trading volume on Thursday . Approximately 1,005,292 shares changed hands during mid-day trading, an increase of 122% from the previous session’s volume of 452,098 shares.The stock last traded at $8.94 and had previously closed at $8.99.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings lowered shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. TD Cowen started coverage on Immatics in a report on Tuesday, April 28th. They issued a “buy” rating for the company. Wall Street Zen downgraded Immatics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Chardan Capital reissued a “buy” rating and issued a $25.00 price target on shares of Immatics in a research note on Tuesday, May 19th. Six research 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.80.

Immatics Price Performance

The company’s 50-day moving average price is $9.84 and its two-hundred day moving average price is $10.09. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.62 and a beta of 1.32.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). The business had revenue of $8.81 million for the quarter, compared to analyst estimates of $9.79 million. Immatics had a negative return on equity of 47.36% and a negative net margin of 572.35%. On average, equities research analysts expect that Immatics N.V. will post -1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Immatics by 3.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 49,374 shares of the company’s stock worth $518,000 after buying an additional 1,739 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after acquiring an additional 2,231 shares during the period. Barclays PLC grew its holdings in Immatics by 11.4% in the fourth quarter. Barclays PLC now owns 28,185 shares of the company’s stock worth $296,000 after purchasing an additional 2,874 shares during the period. Virtus Investment Advisers LLC increased its stake in Immatics by 43.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 26,497 shares of the company’s stock valued at $278,000 after purchasing an additional 7,965 shares in the last quarter. Finally, Quarry LP bought a new stake in Immatics in the fourth quarter valued at $84,000. 64.41% of the stock is owned by institutional investors and hedge funds.

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.