Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume – Here’s Why

Shares of Immatics N.V. (NASDAQ:IMTX) saw strong trading volume on Wednesday. 434,954 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 491,095 shares. The stock last traded at $8.6610 and had previously closed at $8.56.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised Immatics from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group set a $17.00 price objective on shares of Immatics in a research note on Tuesday, August 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Immatics Trading Up 5.4%

The business has a 50 day moving average of $9.10 and a 200-day moving average of $9.85. The firm has a market capitalization of $1.23 billion, a P/E ratio of -4.85 and a beta of 1.33.

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 -2 EPS for the current fiscal year.

Insider Activity at Immatics

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in Immatics by 0.7% during the 2nd quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock worth $1,737,000 after buying an additional 1,110 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of 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 acquiring an additional 10,638 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Immatics by 5.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock valued at $16,693,000 after acquiring an additional 85,960 shares in the last quarter. Bank of America Corp DE increased its position in shares of Immatics by 87.5% in the first quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock valued at $250,000 after acquiring an additional 11,848 shares during the last quarter. Finally, SummitTX Capital L.P. raised its holdings 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 acquiring an additional 54,328 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Company Profile

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.