Immatics (NASDAQ:IMTX) Sees Large Volume Increase – Time to Buy?

Immatics N.V. (NASDAQ:IMTX) shares saw strong trading volume on Wednesday. Approximately 565,484 shares were traded during mid-day trading, an increase of 5% from the previous session’s volume of 539,147 shares. The stock last traded at $7.6950 and had previously closed at $7.51.

Wall Street Analyst Weigh In

IMTX has been the topic of several research reports. Stifel Nicolaus assumed coverage on Immatics in a research note on Tuesday, October 13th. They set a “buy” rating and a $15.00 price target on the stock. Wall Street Zen raised shares of Immatics from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Jefferies Financial Group set a $17.00 price objective on Immatics in a research note on Tuesday, August 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Immatics Price Performance

The business has a 50 day moving average of $8.48 and a 200 day moving average of $9.59. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.05 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $10.44 million during the quarter, compared to analyst estimates of $12.42 million. As a group, equities analysts predict that Immatics N.V. will post -1.99 EPS for the current year.

Insider Activity

In other news, Director Perceptive Advisors Llc acquired 863,060 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $97,732,224.04. This represents a 8.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in Immatics by 5.5% in the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock valued at $16,693,000 after purchasing an additional 85,960 shares in the last quarter. Troluce Capital Advisors LLC bought a new stake in shares of Immatics in the 1st quarter valued at about $2,460,000. Tidal Investments LLC grew its holdings in Immatics by 0.7% during the second quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock worth $1,737,000 after purchasing an additional 1,110 shares during the period. SummitTX Capital L.P. raised 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 buying an additional 54,328 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Immatics during the 1st quarter worth approximately $742,000. 64.41% of the stock is currently owned by institutional investors and hedge funds.

About Immatics

Immatics N.V. is a biotechnology company developing T cell receptor (TCR)-based immunotherapies for cancer. The company’s approach is designed to recognize cancer-associated targets presented on the surface of tumor cells and activate the immune system against malignant tissue.

Its research and development programs include TCR-engineered T cell therapies, TCR bispecific molecules and other cell-based immunotherapies. Immatics has developed technology platforms intended to identify tumor targets and generate therapeutic TCRs, supporting programs for both solid tumors and blood cancers.