Immatics N.V. (NASDAQ:IMTX) Stock Has Average Price Target of $19.00 According to Analysts

Shares of Immatics N.V. (NASDAQ:IMTX) have received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several equities analysts have recently commented on IMTX shares. Wall Street Zen cut shares of Immatics from a “hold” rating to a “sell” rating in a report on Saturday. Mizuho set a $21.00 target price on Immatics in a research note on Thursday, October 29th. Stifel Nicolaus began coverage on Immatics in a research note on Tuesday, October 13th. They set a “buy” rating and a $15.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Finally, Jefferies Financial Group set a $17.00 target price on shares of Immatics in a research report on Tuesday, August 25th.

Insider Activity

In other Immatics news, Director Perceptive Advisors Llc acquired 863,060 shares of Immatics stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the purchase, the director owned 11,246,516 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Immatics

Several hedge funds have recently made changes to their positions in the stock. Troluce Capital Advisors LLC bought a new stake in shares of Immatics during the first quarter valued at approximately $2,460,000. Wellington Management Group LLP boosted its holdings in Immatics by 5.5% during 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 in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Immatics in the 1st quarter valued at approximately $742,000. Alps Advisors Inc. raised its holdings in shares of Immatics by 46.2% in the 3rd quarter. Alps Advisors Inc. now owns 198,239 shares of the company’s stock worth $1,741,000 after buying an additional 62,640 shares in the last quarter. Finally, SummitTX Capital L.P. raised its holdings in shares of Immatics by 56.1% in the 1st quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock worth $1,487,000 after buying an additional 54,328 shares in the last quarter. Institutional investors own 64.41% of the company’s stock.

Immatics Stock Up 0.1%

IMTX opened at $7.07 on Wednesday. The stock has a fifty day moving average of $8.18 and a 200-day moving average of $9.55. The firm has a market capitalization of $966.40 million, a P/E ratio of -3.80 and a beta of 1.38. Immatics has a 12-month low of $6.65 and a 12-month high of $12.41.

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

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.