Immatics (NASDAQ:IMTX) Trading Up 9.3% – Still a Buy?

Immatics N.V. (NASDAQ:IMTX) shares rose 9.3% during mid-day trading on Monday . The stock traded as high as $10.29 and last traded at $10.10. Approximately 76,620 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 466,125 shares. The stock had previously closed at $9.24.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IMTX shares. Chardan Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Immatics in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research report on Thursday, January 22nd. Jefferies Financial Group began coverage on shares of Immatics in a research report on Monday. They set a “buy” rating on the stock. Leerink Partners reiterated an “outperform” rating and issued a $17.00 price objective on shares of Immatics in a research note on Thursday, December 4th. Finally, Mizuho set a $25.00 target price on shares of Immatics in a research report on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Immatics currently has a consensus rating of “Moderate Buy” and an average target price of $19.20.

Immatics Stock Performance

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.29 and a beta of 1.34. The firm has a fifty day moving average price of $9.84 and a 200-day moving average price of $9.37.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.14. Immatics had a negative return on equity of 41.81% and a negative net margin of 411.90%.The business had revenue of $23.00 million during the quarter, compared to the consensus estimate of $12.18 million. On average, sell-side analysts forecast that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Institutional Trading of Immatics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new position in Immatics during the third quarter valued at approximately $10,181,000. Baker BROS. Advisors LP boosted its holdings in shares of 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. Aberdeen Group plc increased its stake in shares of Immatics by 9.7% in the 3rd quarter. Aberdeen Group plc now owns 789,446 shares of the company’s stock valued at $6,726,000 after purchasing an additional 69,860 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Immatics by 28.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,894 shares of the company’s stock valued at $172,000 after purchasing an additional 7,116 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Immatics by 33.1% during the 3rd quarter. TD Asset Management Inc now owns 383,804 shares of the company’s stock worth $3,270,000 after buying an additional 95,548 shares in the last quarter. Institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.