Immatics (NASDAQ:IMTX) Stock Gets Downgrade from Wall Street Zen

Immatics (NASDAQ:IMTX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group set a $17.00 price objective on shares of Immatics in a research report on Tuesday, August 25th. Stifel Nicolaus assumed coverage on shares of Immatics in a report on Tuesday, October 13th. They set a “buy” rating and a $15.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Finally, Mizuho set a $21.00 price target on shares of Immatics in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Immatics Stock Performance

Shares of Immatics stock opened at $7.20 on Friday. The stock has a market capitalization of $984.17 million, a price-to-earnings ratio of -3.87 and a beta of 1.38. Immatics has a 1-year low of $6.65 and a 1-year high of $12.41. The firm has a fifty day simple moving average of $8.25 and a 200-day simple moving average of $9.58.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). The business had revenue of $10.44 million for the quarter, compared to analyst estimates of $12.42 million. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. As a group, research analysts predict that Immatics will post -1.99 earnings per share for the current year.

Insiders Place Their Bets

In other Immatics news, Director Perceptive Advisors Llc purchased 863,060 shares of Immatics 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 directly owned 11,246,516 shares of the company’s stock, valued at approximately $97,732,224.04. This trade represents a 8.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Immatics

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings 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 during the last quarter. Troluce Capital Advisors LLC purchased a new stake in Immatics during the first quarter valued at about $2,460,000. Tidal Investments LLC increased its holdings in shares of Immatics by 0.7% during the second quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock valued at $1,737,000 after acquiring an additional 1,110 shares in the last quarter. SummitTX Capital L.P. boosted its position in shares of Immatics by 56.1% in the first quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock worth $1,487,000 after purchasing an additional 54,328 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Immatics in the 1st quarter worth about $742,000. 64.41% of the stock is currently owned by institutional investors.

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.