Immatics (NASDAQ:IMTX) Shares Up 3.9% – Here’s What Happened

Shares of Immatics N.V. (NASDAQ:IMTX) rose 3.9% during trading on Wednesday . The stock traded as high as $10.42 and last traded at $10.4630. Approximately 130,449 shares changed hands during trading, a decline of 83% from the average daily volume of 764,094 shares. The stock had previously closed at $10.07.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IMTX shares. Guggenheim boosted their price objective on shares of Immatics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Zacks Research raised shares of Immatics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Mizuho upped their price target on shares of Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research report on Wednesday, October 8th. Finally, Chardan Capital reissued a “buy” rating and set a $25.00 price objective on shares of Immatics in a research report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Immatics presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Immatics Stock Up 4.1%

The stock’s 50-day moving average price is $10.12 and its 200 day moving average price is $7.91. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -10.27 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last released its earnings results on Monday, November 17th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. Immatics had a negative return on equity of 24.16% and a negative net margin of 146.13%.The business had revenue of $6.10 million for the quarter, compared to the consensus estimate of $12.53 million. On average, research analysts predict that Immatics N.V. will post -0.72 EPS for the current year.

Institutional Trading of Immatics

A number of institutional investors and hedge funds have recently modified their holdings of IMTX. Bank of America Corp DE raised its stake 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 purchasing an additional 2,231 shares in the last quarter. Trexquant Investment LP bought a new stake in Immatics in the 1st quarter valued at $783,000. Vestal Point Capital LP raised its stake in shares of Immatics by 14.6% in the 1st quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company’s stock valued at $32,439,000 after buying an additional 917,700 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Immatics in the 2nd quarter valued at $59,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Immatics during the 2nd quarter worth about $237,000. 64.41% of the stock is currently owned by institutional investors.

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.