Immatics N.V. (NASDAQ:IMTX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Immatics N.V. (NASDAQ:IMTX) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.60.

Several equities analysts have recently weighed in on IMTX shares. Jefferies Financial Group set a $17.00 price target on Immatics in a report on Tuesday, August 25th. Chardan Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Immatics in a research note on Tuesday, May 19th. Finally, Weiss Ratings cut shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd.

Immatics Stock Down 1.9%

Immatics stock opened at $8.62 on Tuesday. Immatics has a twelve month low of $5.67 and a twelve month high of $12.41. The company has a market capitalization of $1.18 billion, a P/E ratio of -4.63 and a beta of 1.33. The stock’s 50 day moving average is $9.32 and its 200 day moving average is $9.97.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings data 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). Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. The company had revenue of $10.44 million for the quarter, compared to analysts’ expectations of $12.42 million. As a group, equities analysts expect that Immatics will post -2 EPS for the current year.

Insider Transactions at Immatics

In other news, Director Perceptive Advisors Llc bought 863,060 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was acquired 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 approximately $97,732,224.04. This represents a 8.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Immatics

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Immatics by 87.5% during the first quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock valued at $250,000 after acquiring an additional 11,848 shares in the last quarter. Engineers Gate Manager LP lifted its position in Immatics by 26.4% in the 2nd quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock valued at $515,000 after acquiring an additional 10,638 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Immatics in the 1st quarter valued at approximately $742,000. Ishara Investments LP purchased a new stake in Immatics during the 4th quarter valued at $840,000. Finally, SummitTX Capital L.P. boosted its stake in Immatics by 56.1% during the 1st quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock valued at $1,487,000 after purchasing an additional 54,328 shares during the last quarter. Hedge funds and other institutional investors 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.