Immatics (NASDAQ:IMTX) Shares Gap Up – Time to Buy?

Immatics (NASDAQ:IMTX) shares gapped up prior to trading on Monday . The stock had previously closed at $4.14, but opened at $4.48. Immatics shares last traded at $4.23, with a volume of 24,103 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.67.

Immatics Stock Up 3.3 %

The firm has a market cap of $531.17 million, a price-to-earnings ratio of -6.62 and a beta of 0.85. The stock’s 50 day moving average is $4.54 and its 200 day moving average is $6.70.

Immatics (NASDAQ:IMTX) last released its earnings results on Thursday, March 27th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.51. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. The firm had revenue of $15.67 million for the quarter, compared to analyst estimates of $16.16 million. Analysts anticipate that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Immatics

A number of large investors have recently added to or reduced their stakes in IMTX. Bank of America Corp DE increased its holdings in shares of Immatics by 166.0% in the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after buying an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after buying an additional 2,479 shares during the period. Intellectus Partners LLC purchased a new stake in Immatics during the first quarter valued at about $70,000. Guggenheim Capital LLC acquired a new position in shares of Immatics in the fourth quarter worth about $101,000. Finally, Forefront Analytics LLC increased its position in shares of Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after acquiring an additional 4,731 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

Immatics Company Profile

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.