Immatics (NASDAQ:IMTX) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Immatics (NASDAQ:IMTX) in a research note released on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $18.00 price target on the stock.

A number of other equities analysts also recently issued reports on IMTX. Wall Street Zen upgraded Immatics from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Mizuho set a $25.00 price objective on Immatics in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research note on Thursday, January 22nd. Guggenheim lifted their price target on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Finally, Chardan Capital reissued a “buy” rating and issued a $25.00 price target on shares of Immatics in a report on Monday, November 24th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Immatics Stock Performance

Shares of Immatics stock opened at $9.68 on Monday. The firm has a 50-day simple moving average of $9.84 and a two-hundred day simple moving average of $9.44. The company has a market cap of $1.30 billion, a P/E ratio of -5.26 and a beta of 1.34. Immatics has a fifty-two week low of $3.30 and a fifty-two week high of $12.41.

Immatics (NASDAQ:IMTX) last posted its earnings results on Thursday, March 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.14. Immatics had a negative net margin of 411.90% and a negative return on equity of 41.81%. The business had revenue of $23.00 million for the quarter, compared to analyst estimates of $12.18 million. Equities research analysts forecast that Immatics will post -0.72 EPS for the current year.

Hedge Funds Weigh In On Immatics

Hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. lifted its position in shares of Immatics by 323.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 5,059,551 shares of the company’s stock valued at $53,125,000 after acquiring an additional 3,864,636 shares in the last quarter. RTW Investments LP increased its position in shares of Immatics by 29.7% during the fourth quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock worth $120,050,000 after purchasing an additional 2,617,737 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Immatics by 10.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock valued at $225,322,000 after purchasing an additional 2,075,987 shares during the last quarter. Baker BROS. Advisors LP lifted its holdings in Immatics by 18.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock valued at $103,042,000 after purchasing an additional 1,925,193 shares in the last quarter. Finally, Sofinnova Investments Inc. lifted its holdings in Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock valued at $36,073,000 after purchasing an additional 1,207,705 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

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.