Immatics (NASDAQ:IMTX) Rating Lowered to Sell at Wall Street Zen

Immatics (NASDAQ:IMTX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Several other brokerages have also recently issued reports on IMTX. Zacks Research raised Immatics from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Guggenheim lifted their price target on Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Leerink Partners restated an “outperform” rating and issued a $17.00 price objective on shares of Immatics in a research report on Thursday, December 4th. Chardan Capital reaffirmed a “buy” rating and set a $25.00 price objective on shares of Immatics in a research note on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Immatics has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Immatics Trading Down 0.1%

IMTX opened at $9.16 on Friday. Immatics has a 12-month low of $3.30 and a 12-month high of $12.41. The firm has a 50 day moving average of $10.05 and a two-hundred day moving average of $8.17. The firm has a market capitalization of $1.11 billion, a PE ratio of -8.98 and a beta of 1.36.

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

Institutional Investors Weigh In On Immatics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP lifted its holdings 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. Vestal Point Capital LP lifted 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 in the last quarter. Sofinnova Investments Inc. lifted its stake in Immatics by 44.1% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,240,528 shares of the company’s stock valued at $12,054,000 after buying an additional 686,224 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Immatics in the 3rd quarter worth about $10,181,000. Finally, Aberdeen Group plc increased its stake in Immatics by 9.7% during the 3rd quarter. Aberdeen Group plc now owns 789,446 shares of the company’s stock worth $6,726,000 after buying an additional 69,860 shares in the last quarter. Hedge funds and other institutional investors 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.