Immatics (NASDAQ:IMTX) Sees Unusually-High Trading Volume – What’s Next?

Immatics N.V. (NASDAQ:IMTX) saw strong trading volume on Wednesday . 1,097,583 shares traded hands during mid-day trading, an increase of 146% from the previous session’s volume of 446,457 shares.The stock last traded at $10.9390 and had previously closed at $11.39.

Analysts Set New Price Targets

IMTX has been the topic of several research reports. Jefferies Financial Group assumed coverage on shares of Immatics in a report on Monday, March 16th. They issued a “buy” rating and a $18.00 price target on the stock. TD Cowen assumed coverage on shares of Immatics in a research report on Tuesday, April 28th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Immatics from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Mizuho set a $25.00 price objective on Immatics in a research report on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Immatics has an average rating of “Moderate Buy” and an average target price of $19.00.

Immatics Price Performance

The firm has a market capitalization of $1.45 billion, a PE ratio of -5.42 and a beta of 1.31. The stock has a 50-day moving average price of $10.47 and a 200-day moving average price of $10.16.

Immatics (NASDAQ:IMTX) last announced its earnings results on Tuesday, May 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). Immatics had a negative net margin of 572.35% and a negative return on equity of 47.36%. The business had revenue of $8.81 million during the quarter, compared to analyst estimates of $9.79 million. As a group, equities research analysts predict that Immatics N.V. will post -1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several institutional investors and hedge funds have recently bought and sold shares of IMTX. Y Intercept Hong Kong Ltd acquired a new stake in Immatics in the first quarter worth $742,000. T. Rowe Price Investment Management Inc. grew its position in shares of Immatics by 10.7% during 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 acquiring an additional 2,075,987 shares during the last quarter. Virtus Investment Advisers LLC increased its holdings in shares of Immatics by 43.0% in the 4th quarter. Virtus Investment Advisers LLC now owns 26,497 shares of the company’s stock worth $278,000 after acquiring an additional 7,965 shares during the period. SummitTX Capital L.P. increased its holdings in shares of Immatics by 117.7% in the 4th quarter. SummitTX Capital L.P. now owns 96,784 shares of the company’s stock worth $1,016,000 after acquiring an additional 52,318 shares during the period. Finally, Tudor Investment Corp ET AL bought a new stake in Immatics in the 4th quarter valued at about $575,000. 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.