Immatics N.V. (NASDAQ:IMTX) Receives $18.80 Average PT from Analysts

Immatics N.V. (NASDAQ:IMTX) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.80.

Several equities research analysts have weighed in on the company. Guggenheim raised their price target on Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Mizuho lifted their target price on shares of Immatics from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Chardan Capital restated a “buy” rating and set a $25.00 price target on shares of Immatics in a research note on Monday, November 24th. Zacks Research upgraded shares of Immatics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a report on Thursday, January 22nd.

Immatics Trading Down 6.1%

NASDAQ IMTX opened at $9.34 on Monday. The firm’s fifty day simple moving average is $10.01 and its two-hundred day simple moving average is $8.63. The firm has a market capitalization of $1.14 billion, a P/E ratio of -9.16 and a beta of 1.36. Immatics has a 12-month low of $3.30 and a 12-month high of $12.41.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data 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 firm had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $12.53 million. As a group, sell-side analysts predict that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. UBS Group AG lifted its holdings in shares of Immatics by 61.3% during the fourth quarter. UBS Group AG now owns 563,463 shares of the company’s stock worth $5,916,000 after purchasing an additional 214,084 shares during the period. SG Americas Securities LLC purchased a new position in Immatics during the 4th quarter worth approximately $2,189,000. Alyeska Investment Group L.P. acquired a new stake in Immatics during the 3rd quarter valued at approximately $2,556,000. Verition Fund Management LLC purchased a new stake in shares of Immatics in the 3rd quarter valued at $385,000. Finally, Vestal Point Capital LP increased its stake in shares of Immatics by 1.6% in the third quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock worth $54,102,000 after acquiring an additional 100,000 shares during the period. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.