Immatics (NASDAQ:IMTX) Shares Up 8.9% – Should You Buy?

Immatics N.V. (NASDAQ:IMTX) rose 8.9% during trading on Thursday . The company traded as high as $11.15 and last traded at $11.2640. Approximately 129,598 shares were traded during trading, a decline of 83% from the average daily volume of 780,628 shares. The stock had previously closed at $10.34.

Analyst Ratings Changes

Several research analysts recently commented on the company. Zacks Research upgraded Immatics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Leerink Partners restated an “outperform” rating and issued a $17.00 price objective on shares of Immatics in a report on Thursday. Chardan Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Immatics in a research note on Monday, November 24th. Guggenheim increased their price target on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Mizuho increased their price objective on Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.80.

Immatics Trading Down 14.2%

The business’s 50-day simple moving average is $10.01 and its 200-day simple moving average is $7.35. The company has a market capitalization of $1.24 billion, a PE ratio of -9.98 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last released its quarterly earnings data on Monday, November 17th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.01. Immatics had a negative net margin of 146.13% and a negative return on equity of 24.16%. The business had revenue of $6.10 million for the quarter, compared to the consensus estimate of $12.53 million. Sell-side analysts forecast that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Institutional Trading of Immatics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Immatics in the second quarter worth about $59,000. Insigneo Advisory Services LLC purchased a new position in Immatics in the 3rd quarter worth approximately $103,000. Engineers Gate Manager LP acquired a new position in Immatics during the second quarter worth $124,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Immatics in the second quarter valued at about $136,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

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.