Immatics (NASDAQ:IMTX) Sees Strong Trading Volume – Should You Buy?

Immatics N.V. (NASDAQ:IMTX) shares saw unusually-strong trading volume on Wednesday. 565,484 shares traded hands during trading, an increase of 5% from the previous session’s volume of 539,147 shares. The stock last traded at $7.6950 and had previously closed at $7.51.

Analysts Set New Price Targets

A number of research firms recently issued reports on IMTX. Stifel Nicolaus started coverage on Immatics in a report on Tuesday, October 13th. They issued a “buy” rating and a $15.00 price target for the company. Jefferies Financial Group set a $17.00 price target on Immatics in a research report on Tuesday, August 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Finally, Wall Street Zen raised Immatics from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Immatics presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.67.

Immatics Trading Up 3.6%

The business has a 50 day moving average of $8.56 and a 200-day moving average of $9.63. The firm has a market capitalization of $1.06 billion, a P/E ratio of -4.18 and a beta of 1.36.

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

Insider Activity at Immatics

In other Immatics news, Director Perceptive Advisors Llc acquired 863,060 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the completion of the transaction, the director directly owned 11,246,516 shares in the company, valued at $97,732,224.04. This trade represents a 8.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Immatics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of Immatics by 87.5% during the 1st quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock worth $250,000 after purchasing an additional 11,848 shares during the last quarter. Doliver Advisors LP acquired a new stake in Immatics in the third quarter valued at $263,000. Engineers Gate Manager LP lifted its stake in Immatics by 26.4% in the 2nd quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock valued at $515,000 after purchasing an additional 10,638 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Immatics in the first quarter valued at approximately $742,000. Finally, SummitTX Capital L.P. boosted 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 purchasing an additional 54,328 shares during the period. Institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.