Immatics N.V. (NASDAQ:IMTX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Immatics N.V. (NASDAQ:IMTX) have been assigned an average recommendation of “Buy” from the five brokerages that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $14.67.

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Immatics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on Immatics in a research note on Wednesday, May 28th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research note on Tuesday, April 1st.

Immatics Trading Up 2.4%

NASDAQ:IMTX opened at $5.59 on Friday. The stock has a market capitalization of $679.46 million, a PE ratio of -32.88 and a beta of 0.83. Immatics has a 1-year low of $3.30 and a 1-year high of $13.09. The firm has a fifty day simple moving average of $5.21 and a 200 day simple moving average of $5.32.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04. Immatics had a negative net margin of 14.73% and a negative return on equity of 4.52%. The firm had revenue of $20.12 million during the quarter, compared to analysts’ expectations of $14.92 million. On average, equities analysts predict that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Immatics

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after buying an additional 2,231 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in Immatics by 34.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after acquiring an additional 2,479 shares during the last quarter. Intellectus Partners LLC bought a new stake in shares of Immatics during the first quarter worth approximately $70,000. Guggenheim Capital LLC acquired a new position in shares of Immatics in the fourth quarter valued at approximately $101,000. Finally, Forefront Analytics LLC grew its position in shares of Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after purchasing an additional 4,731 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.