Immatics (NASDAQ:IMTX) Stock Lifted to Hold by Wall Street Zen

Wall Street Zen upgraded shares of Immatics (NASDAQ:IMTX) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other analysts also recently weighed in on IMTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a report on Friday, September 18th. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Immatics Price Performance

Shares of NASDAQ IMTX opened at $8.37 on Friday. The stock has a fifty day moving average price of $9.13 and a 200 day moving average price of $9.88. Immatics has a 1-year low of $7.10 and a 1-year high of $12.41. The company has a market cap of $1.14 billion, a PE ratio of -4.50 and a beta of 1.33.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). The firm had revenue of $10.44 million during the quarter, compared to analysts’ expectations of $12.42 million. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. Analysts anticipate that Immatics will post -2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Immatics news, Director Perceptive Advisors Llc acquired 863,060 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was purchased at an average price of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the transaction, the director owned 11,246,516 shares of the company’s stock, valued at $97,732,224.04. The trade was a 8.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immatics

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of Immatics by 87.5% in the 1st quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock valued at $250,000 after purchasing an additional 11,848 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Immatics by 26.4% during the second quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock worth $515,000 after buying an additional 10,638 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Immatics during the first quarter worth about $742,000. Ishara Investments LP acquired a new position in Immatics during the fourth quarter worth about $840,000. Finally, SummitTX Capital L.P. grew its position in Immatics by 56.1% during the first 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 during the period. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

About Immatics

Immatics N.V. is a biopharmaceutical company focused on developing T cell receptor (TCR)-based therapies for cancer. The company aims to identify cancer targets that are presented on the surface of tumor cells and develop treatments that enable T cells to recognize and attack those cells, including targets that may be difficult to address with conventional antibody-based medicines.

Immatics’ technology platforms support two primary approaches: TCR-engineered T-cell therapies, known as TCR-T, and TCR-based bispecific molecules designed to direct patients’ T cells toward tumor cells.