Immatics (NASDAQ:IMTX) Sees Large Volume Increase – What’s Next?

Shares of Immatics N.V. (NASDAQ:IMTX) saw an uptick in trading volume on Wednesday. Approximately 565,484 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 539,147 shares. The stock last traded at $7.6950 and had previously closed at $7.51.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IMTX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Wall Street Zen raised shares of Immatics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Stifel Nicolaus began coverage on Immatics in a report on Tuesday, October 13th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Jefferies Financial Group set a $17.00 price objective on Immatics in a research note on Tuesday, August 25th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.67.

Immatics Price Performance

The company’s 50-day moving average price is $8.56 and its two-hundred day moving average price is $9.63. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.18 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last released its earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. The firm had revenue of $10.44 million during the quarter, compared to analyst estimates of $12.42 million. On average, equities research analysts expect that Immatics N.V. will post -1.99 EPS for the current fiscal year.

Insider Activity at Immatics

In other Immatics news, Director Perceptive Advisors Llc bought 863,060 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the completion of the purchase, the director directly owned 11,246,516 shares of the company’s stock, valued at approximately $97,732,224.04. This trade represents a 8.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Immatics

Hedge funds have recently added to or reduced their stakes in the business. Troluce Capital Advisors LLC acquired a new position in Immatics in the first quarter valued at approximately $2,460,000. Wellington Management Group LLP boosted its holdings in shares of Immatics by 5.5% during the 2nd quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock worth $16,693,000 after buying an additional 85,960 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Immatics during the 1st quarter worth approximately $742,000. Doliver Advisors LP acquired a new stake in shares of Immatics during the 3rd quarter worth approximately $263,000. 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 buying an additional 1,110 shares during the period. 64.41% of the stock is currently owned by institutional investors.

Immatics Company Profile

Immatics N.V. is a biotechnology company developing T cell receptor (TCR)-based immunotherapies for cancer. The company’s approach is designed to recognize cancer-associated targets presented on the surface of tumor cells and activate the immune system against malignant tissue.

Its research and development programs include TCR-engineered T cell therapies, TCR bispecific molecules and other cell-based immunotherapies. Immatics has developed technology platforms intended to identify tumor targets and generate therapeutic TCRs, supporting programs for both solid tumors and blood cancers.