Immatics N.V. (NASDAQ:IMTX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Immatics N.V. (NASDAQ:IMTX) has been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One 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 12 month price objective among analysts that have issued a report on the stock in the last year is $20.80.

A number of equities analysts have recently issued reports on IMTX shares. Mizuho set a $25.00 price objective on shares of Immatics in a research note on Thursday, February 19th. Jefferies Financial Group started coverage on shares of Immatics in a research note on Monday, March 16th. They issued a “buy” rating and a $18.00 price objective for the company. Wall Street Zen cut shares of Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. TD Cowen started coverage on shares of Immatics in a research note on Tuesday, April 28th. They issued a “buy” rating for the company. Finally, Chardan Capital restated a “buy” rating and issued a $25.00 price objective on shares of Immatics in a research note on Tuesday, May 19th.

Hedge Funds Weigh In On Immatics

A number of hedge funds have recently made changes to their positions in IMTX. Bank of America Corp DE raised its stake in shares of Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after buying an additional 2,231 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Immatics by 31.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company’s stock valued at $1,069,000 after buying an additional 47,590 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Immatics by 105.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company’s stock valued at $420,000 after buying an additional 40,058 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Immatics in the 2nd quarter valued at $124,000. Finally, Sofinnova Investments Inc. raised its stake in shares of Immatics by 44.1% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock valued at $12,054,000 after buying an additional 686,224 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Price Performance

NASDAQ:IMTX opened at $9.79 on Friday. The stock has a market cap of $1.31 billion, a P/E ratio of -4.92 and a beta of 1.30. Immatics has a one year low of $5.05 and a one year high of $12.41. The company has a fifty day moving average price of $10.84 and a 200 day moving average price of $10.28.

Immatics (NASDAQ:IMTX) last released its earnings results on Tuesday, May 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.08). The company had revenue of $8.81 million for the quarter, compared to analyst estimates of $9.79 million. Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. As a group, equities research analysts anticipate that Immatics will post -1.67 EPS for the current year.

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.