Cubist Systematic Strategies LLC Increases Stock Position in Immatics (NASDAQ:IMTX)

Cubist Systematic Strategies LLC grew its position in Immatics (NASDAQ:IMTX) by 686.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,382 shares of the company’s stock after purchasing an additional 242,988 shares during the period. Cubist Systematic Strategies LLC’s holdings in Immatics were worth $1,979,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. abrdn plc lifted its holdings in Immatics by 49.2% during the fourth quarter. abrdn plc now owns 347,379 shares of the company’s stock worth $2,470,000 after acquiring an additional 114,479 shares during the period. Guggenheim Capital LLC bought a new stake in Immatics during the fourth quarter worth $101,000. Y Intercept Hong Kong Ltd bought a new stake in Immatics during the fourth quarter worth $211,000. Marshall Wace LLP bought a new stake in Immatics during the fourth quarter worth $409,000. Finally, Schroder Investment Management Group lifted its holdings in Immatics by 52.6% during the fourth quarter. Schroder Investment Management Group now owns 427,994 shares of the company’s stock worth $2,953,000 after acquiring an additional 147,547 shares during the period. 64.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Immatics presently has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Down 2.3%

IMTX opened at $4.24 on Monday. The stock has a market cap of $515.37 million, a price-to-earnings ratio of -6.42 and a beta of 0.87. Immatics has a twelve month low of $3.30 and a twelve month high of $13.77. The company’s 50-day moving average price is $4.48 and its two-hundred day moving average price is $5.98.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.51. The company had revenue of $15.67 million during the quarter, compared to the consensus estimate of $16.16 million. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. As a group, sell-side analysts anticipate that Immatics will post -0.72 earnings per share for the current year.

Immatics Company Profile

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.