Immatics (NASDAQ:IMTX) Stock Price Up 4.8% – Should You Buy?

Immatics N.V. (NASDAQ:IMTX) shares traded up 4.8% during trading on Wednesday. The company traded as high as $7.18 and last traded at $7.1550. Approximately 295,229 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 515,800 shares. The stock had previously closed at $6.83.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IMTX. Jefferies Financial Group set a $17.00 price objective on shares of Immatics in a research note on Tuesday, August 25th. Wall Street Zen upgraded shares of Immatics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Finally, Stifel Nicolaus began coverage on Immatics in a research report on Tuesday. They set a “buy” rating and a $15.00 price target for the company. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Immatics currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Immatics Stock Down 1.0%

The firm has a market cap of $924.02 million, a PE ratio of -3.64 and a beta of 1.36. The stock’s fifty day simple moving average is $8.82 and its two-hundred day simple moving average is $9.72.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). The company had revenue of $10.44 million for the quarter, compared to the consensus estimate of $12.42 million. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. On average, equities research analysts anticipate that Immatics N.V. will post -2.00 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Perceptive Advisors Llc bought 863,060 shares of the stock in a transaction on Wednesday, August 26th. The shares were bought at an average price of $8.69 per share, with a total value 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. The trade was a 8.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of Immatics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted its holdings in Immatics by 10.7% in the 4th quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock worth $109,026,000 after purchasing an additional 1,000,000 shares in the last quarter. Sofinnova Investments Inc. raised its position in Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock worth $36,073,000 after purchasing an additional 1,207,705 shares during the period. Wellington Management Group LLP lifted its stake in shares of Immatics by 5.5% during the 2nd quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock worth $16,693,000 after acquiring an additional 85,960 shares during the last quarter. Troluce Capital Advisors LLC purchased a new position in Immatics during the 1st quarter valued at $2,460,000. Finally, Tidal Investments LLC grew its stake in Immatics by 0.7% in 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 in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

Immatics N.V. (NASDAQ: IMTX) is a biotechnology company focused on developing T cell receptor (TCR)-based therapies for the treatment of cancer. The company identifies cancer targets and designs treatments intended to direct a patient’s immune system toward tumor cells, including solid tumors that may be difficult to address with conventional immunotherapies.

Immatics’ technology platforms support several therapeutic approaches, including TCR-engineered T-cell therapies and TCR-based bispecific molecules that can engage both cancer targets and T cells.