Immatics (NASDAQ:IMTX) Sees Large Volume Increase – Still a Buy?

Immatics N.V. (NASDAQ:IMTX) shares saw an uptick in trading volume on Thursday . Approximately 1,005,292 shares were traded during trading, an increase of 122% from the previous session’s volume of 452,098 shares.The stock last traded at $8.94 and had previously closed at $8.99.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IMTX. TD Cowen began coverage on Immatics in a report on Tuesday, April 28th. They set a “buy” rating for the company. Weiss Ratings cut shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Immatics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Chardan Capital restated a “buy” rating and issued a $25.00 price objective on shares of Immatics in a report on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.80.

Immatics Stock Down 5.9%

The stock has a market capitalization of $1.16 billion, a PE ratio of -4.35 and a beta of 1.32. The stock has a fifty day moving average of $9.75 and a 200-day moving average of $10.08.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.08). The company had revenue of $8.81 million for the quarter, compared to analysts’ expectations of $9.79 million. Immatics had a negative return on equity of 47.36% and a negative net margin of 572.35%. Equities research analysts expect that Immatics N.V. will post -1.67 EPS for the current year.

Institutional Trading of Immatics

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after acquiring an additional 2,231 shares in the last quarter. Quarry LP purchased a new stake in shares of Immatics during the 4th quarter worth $84,000. Fox Run Management L.L.C. purchased a new stake in shares of Immatics during the 4th quarter worth $129,000. Graham Capital Management L.P. acquired a new position in shares of Immatics during the fourth quarter worth $206,000. Finally, Engineers Gate Manager LP purchased a new position in Immatics in the second quarter valued at $124,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Company Profile

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biotechnology company dedicated to the development of T cell receptor (TCR)-based immunotherapies for solid tumors. The company leverages its proprietary discovery and engineering platforms to identify tumor-specific peptide targets and develop therapies that harness the power of a patient’s immune system. Immatics’ approach aims to generate durable responses by guiding T cells to recognize and kill cancer cells with high precision.

At the core of Immatics’ technology suite is the XPRESIDENT® platform, which mines the cancer peptidome to uncover novel tumor antigens naturally presented on the surface of cancer cells.