Immatics N.V. (NASDAQ:IMTX) Receives $20.80 Consensus Target Price from Analysts

Immatics N.V. (NASDAQ:IMTX) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.80.

A number of brokerages have recently commented on IMTX. Chardan Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Immatics in a report on Tuesday, May 19th. TD Cowen assumed coverage on Immatics in a report on Tuesday, April 28th. They issued a “buy” rating for the company. Weiss Ratings downgraded shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen downgraded Immatics from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd.

Immatics Price Performance

Shares of IMTX opened at $8.66 on Monday. The stock has a 50 day moving average price of $9.75 and a 200 day moving average price of $10.09. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -4.35 and a beta of 1.32. Immatics has a 52-week low of $5.05 and a 52-week high of $12.41.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.08). Immatics had a negative return on equity of 47.36% and a negative net margin of 572.35%.The company had revenue of $8.81 million for the quarter, compared to analyst estimates of $9.79 million. On average, equities analysts anticipate that Immatics will post -1.67 EPS for the current fiscal year.

Institutional Trading of Immatics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMTX. SG Americas Securities LLC purchased a new stake in shares of Immatics during the fourth quarter worth about $2,189,000. Sofinnova Investments Inc. raised its position in shares of Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock worth $36,073,000 after buying an additional 1,207,705 shares during the period. Troluce Capital Advisors LLC purchased a new position in shares of Immatics in the 1st quarter worth about $2,460,000. Monashee Investment Management LLC acquired a new position in Immatics during the fourth quarter valued at approximately $1,684,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Immatics during the 1st quarter valued at $742,000. Hedge funds and other institutional investors 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.