Immatics N.V. (NASDAQ:IMTX) Given Average Rating of “Moderate Buy” by Brokerages

Immatics N.V. (NASDAQ:IMTX) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.00.

Several equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Immatics in a research report on Monday, March 16th. They issued a “buy” rating and a $18.00 target price for the company. Wall Street Zen downgraded Immatics from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Mizuho set a $25.00 target price on Immatics in a research report on Thursday, February 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research report on Thursday, January 22nd. Finally, TD Cowen assumed coverage on Immatics in a research report on Tuesday, April 28th. They set a “buy” rating for the company.

Hedge Funds Weigh In On Immatics

A number of institutional investors and hedge funds have recently made changes to their positions in IMTX. Jefferies Financial Group Inc. grew its position in shares of Immatics by 323.4% during the fourth quarter. Jefferies Financial Group Inc. now owns 5,059,551 shares of the company’s stock worth $53,125,000 after buying an additional 3,864,636 shares in the last quarter. RTW Investments LP grew its position in shares of Immatics by 29.7% during the fourth quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock worth $120,050,000 after buying an additional 2,617,737 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Immatics by 10.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock worth $225,322,000 after buying an additional 2,075,987 shares in the last quarter. Baker BROS. Advisors LP grew its position in shares of Immatics by 18.9% during 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. Finally, Sofinnova Investments Inc. grew its position in shares of Immatics by 54.2% during the fourth quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock worth $36,073,000 after buying an additional 1,207,705 shares in the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

Immatics Price Performance

NASDAQ IMTX opened at $11.39 on Wednesday. The company has a market cap of $1.53 billion, a P/E ratio of -6.19 and a beta of 1.31. The stock has a 50-day moving average of $10.43 and a two-hundred day moving average of $10.15. Immatics has a 1-year low of $4.15 and a 1-year high of $12.41.

Immatics (NASDAQ:IMTX) last released its earnings results 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 during the quarter, compared to analyst estimates of $9.79 million. Immatics had a negative net margin of 411.90% and a negative return on equity of 41.81%. On average, analysts anticipate that Immatics will post -1.49 EPS for the current fiscal year.

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.