Immatics (NASDAQ:IMTX) Stock Rating Upgraded by Wall Street Zen

Immatics (NASDAQ:IMTX – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other brokerages have also issued reports on IMTX. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a research note on Tuesday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Check Out Our Latest Analysis on IMTX

Immatics Stock Performance

Shares of IMTX stock opened at $8.37 on Friday. The company has a market capitalization of $1.14 billion, a P/E ratio of -4.50 and a beta of 1.33. Immatics has a 52 week low of $7.10 and a 52 week high of $12.41. The company’s 50 day moving average price is $9.13 and its two-hundred day moving average price is $9.88.

Immatics (NASDAQ:IMTX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%.The company had revenue of $10.44 million for the quarter, compared to analyst estimates of $12.42 million. Analysts forecast that Immatics will post -2 earnings per share for the current year.

Insider Transactions at Immatics

In other news, Director Perceptive Advisors Llc acquired 863,060 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $8.69 per share, with a total value of $7,499,991.40. Following the acquisition, the director directly owned 11,246,516 shares in the company, valued at $97,732,224.04. This represents a 8.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Immatics

Hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC increased its position in Immatics by 10.7% during the fourth quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock worth $109,026,000 after acquiring an additional 1,000,000 shares during the period. Sofinnova Investments Inc. boosted its holdings in Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock valued at $36,073,000 after purchasing an additional 1,207,705 shares during the period. Wellington Management Group LLP boosted its holdings in Immatics by 5.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock valued at $16,693,000 after purchasing an additional 85,960 shares during the period. Troluce Capital Advisors LLC acquired a new position in shares of Immatics during the 1st quarter worth approximately $2,460,000. Finally, Tidal Investments LLC grew its position in shares of Immatics by 0.7% during the 2nd quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock worth $1,737,000 after purchasing an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

(Get Free Report)

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.

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