Immatics N.V. (NASDAQ:IMTX) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Immatics N.V. (NASDAQ:IMTX) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $19.67.

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Immatics from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Jefferies Financial Group set a $17.00 target price on shares of Immatics in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Finally, Stifel Nicolaus began coverage on shares of Immatics in a research note on Tuesday. They set a “buy” rating and a $15.00 target price on the stock.

Immatics Stock Up 2.5%

Shares of Immatics stock opened at $7.00 on Friday. Immatics has a 12-month low of $6.73 and a 12-month high of $12.41. The company has a market capitalization of $956.83 million, a price-to-earnings ratio of -3.76 and a beta of 1.36. The firm’s 50-day moving average price is $8.76 and its two-hundred day moving average price is $9.70.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. The firm had revenue of $10.44 million during the quarter, compared to the consensus estimate of $12.42 million. On average, sell-side analysts expect that Immatics will post -2.00 earnings per share for the current year.

Insider Activity at Immatics

In other news, Director Perceptive Advisors Llc acquired 863,060 shares of the business’s stock in a transaction that occurred 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 acquisition, the director directly owned 11,246,516 shares in the company, valued at $97,732,224.04. The trade was a 8.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.30% of the company’s stock.

Institutional Trading of Immatics

Large investors have recently bought and sold shares of the business. Sofinnova Investments Inc. grew its stake in shares of Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock valued at $36,073,000 after buying an additional 1,207,705 shares during the period. Perceptive Advisors LLC increased its position in Immatics by 10.7% in the 4th quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock valued at $109,026,000 after buying an additional 1,000,000 shares in the last quarter. Troluce Capital Advisors LLC acquired a new position in Immatics during the 1st quarter worth approximately $2,460,000. Monashee Investment Management LLC acquired a new position in Immatics during the 4th quarter worth approximately $1,684,000. Finally, Wellington Management Group LLP raised its stake in 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 buying an additional 85,960 shares during the period. 64.41% of the stock is currently owned by institutional investors and hedge funds.

About Immatics

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.