Immatics (NASDAQ:IMTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Immatics (NASDAQ:IMTX) from a sell rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently weighed in on IMTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a report on Friday, September 18th. Jefferies Financial Group set a $17.00 target price on shares of Immatics in a research note on Tuesday, August 25th. Six 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Immatics Trading Up 1.6%

Immatics stock opened at $8.50 on Friday. Immatics has a 52 week low of $7.73 and a 52 week high of $12.41. The stock has a market cap of $1.16 billion, a P/E ratio of -4.57 and a beta of 1.33. The stock has a 50 day moving average of $9.11 and a 200-day moving average of $9.86.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 47.41% and a negative net margin of 495.71%. As a group, equities analysts predict that Immatics will post -2 earnings per share for the current fiscal year.

Insider Activity at Immatics

In related news, Director Perceptive Advisors Llc bought 863,060 shares of the stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $8.69 per share, with a total value of $7,499,991.40. Following the completion of the acquisition, the director owned 11,246,516 shares of the company’s stock, valued at $97,732,224.04. This trade represents a 8.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IMTX. Troluce Capital Advisors LLC bought a new position in Immatics during the 1st quarter worth $2,460,000. Sofinnova Investments Inc. lifted its stake in Immatics by 54.2% in the fourth quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock valued at $36,073,000 after buying an additional 1,207,705 shares during the last quarter. Monashee Investment Management LLC bought a new stake in Immatics in the fourth quarter valued at $1,684,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Immatics during the first quarter valued at $742,000. Finally, Wellington Management Group LLP grew its position in shares of Immatics by 5.5% during the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock worth $16,693,000 after acquiring an additional 85,960 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

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.