Immatics N.V. (NASDAQ:IMTX – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $10.26, but opened at $10.71. Immatics shares last traded at $10.2410, with a volume of 146,005 shares traded.
Analysts Set New Price Targets
IMTX has been the subject of several analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $25.00 target price on shares of Immatics in a report on Tuesday, May 19th. Jefferies Financial Group began coverage on Immatics in a research note on Monday, March 16th. They issued a “buy” rating and a $18.00 price target on the stock. Weiss Ratings downgraded Immatics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Wall Street Zen downgraded Immatics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, TD Cowen began coverage on shares of Immatics in a research note on Tuesday, April 28th. They set a “buy” rating for the company. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Immatics presently has an average rating of “Moderate Buy” and a consensus target price of $20.80.
Read Our Latest Research Report on IMTX
Immatics Stock Down 0.2%
Immatics (NASDAQ:IMTX – Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.08). The business had revenue of $8.81 million for the quarter, compared to analyst estimates of $9.79 million. Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. Equities analysts forecast that Immatics N.V. will post -1.67 EPS for the current year.
Hedge Funds Weigh In On Immatics
A number of large investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of Immatics by 10.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock worth $225,322,000 after purchasing an additional 2,075,987 shares in the last quarter. Baker BROS. Advisors LP grew its position in Immatics by 18.9% during the third 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. RTW Investments LP increased its stake in Immatics by 29.7% in the 4th quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock valued at $120,050,000 after buying an additional 2,617,737 shares during the period. Perceptive Advisors LLC increased its stake in Immatics by 10.7% in the 4th quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock valued at $109,026,000 after buying an additional 1,000,000 shares during the period. Finally, Vestal Point Capital LP increased its stake in Immatics by 1.6% in the 3rd quarter. Vestal Point Capital LP now owns 6,350,000 shares of the company’s stock valued at $54,102,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds own 64.41% of the company’s stock.
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.
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