Immatics (NASDAQ:IMTX) Trading Up 8.9% – Time to Buy?

Shares of Immatics N.V. (NASDAQ:IMTX) were up 8.9% on Thursday . The company traded as high as $11.15 and last traded at $11.2640. Approximately 129,598 shares were traded during trading, a decline of 83% from the average daily volume of 780,628 shares. The stock had previously closed at $10.34.

Wall Street Analyst Weigh In

IMTX has been the subject of a number of recent analyst reports. Leerink Partners reiterated an “outperform” rating and issued a $17.00 price target on shares of Immatics in a research report on Thursday. Zacks Research raised Immatics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Mizuho lifted their target price on Immatics from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Guggenheim increased their price objective on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, Chardan Capital restated a “buy” rating and set a $25.00 target price on shares of Immatics in a research report on Monday, November 24th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Immatics Stock Performance

The business’s fifty day moving average price is $9.87 and its two-hundred day moving average price is $7.28. The stock has a market capitalization of $1.39 billion, a P/E ratio of -11.23 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data on Monday, November 17th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.01. Immatics had a negative return on equity of 24.16% and a negative net margin of 146.13%.The company had revenue of $6.10 million for the quarter, compared to analysts’ expectations of $12.53 million. As a group, analysts forecast that Immatics N.V. will post -0.72 earnings per share for the current year.

Institutional Trading of Immatics

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after acquiring an additional 2,231 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Immatics during the 2nd quarter worth about $59,000. Insigneo Advisory Services LLC bought a new position in Immatics during the 3rd quarter valued at about $103,000. Engineers Gate Manager LP bought a new position in Immatics during the 2nd quarter valued at about $124,000. Finally, Fox Run Management L.L.C. bought a new stake in Immatics in the second quarter worth about $136,000. 64.41% of the stock is currently owned by institutional investors.

About Immatics

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.