Immatics N.V. (NASDAQ:IMTX) Given Average Recommendation of “Moderate Buy” by Analysts

Immatics N.V. (NASDAQ:IMTX) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $19.00.

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Immatics from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Mizuho set a $25.00 price target on Immatics in a report on Thursday, February 19th. Jefferies Financial Group began coverage on Immatics in a research report on Monday, March 16th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Thursday, January 22nd.

Immatics Stock Up 1.8%

IMTX opened at $11.35 on Friday. The firm has a 50-day moving average price of $10.19 and a 200-day moving average price of $10.08. Immatics has a twelve month low of $3.94 and a twelve month high of $12.41. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -6.17 and a beta of 1.34.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.14. The company had revenue of $23.00 million for the quarter, compared to analysts’ expectations of $12.18 million. Immatics had a negative net margin of 411.90% and a negative return on equity of 41.81%. On average, sell-side analysts expect that Immatics will post -1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its position in shares of Immatics by 10.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,459,156 shares of the company’s stock valued at $225,322,000 after acquiring an additional 2,075,987 shares during the period. Baker BROS. Advisors LP increased its holdings in Immatics by 18.9% during the 3rd quarter. Baker BROS. Advisors LP now owns 12,094,094 shares of the company’s stock worth $103,042,000 after acquiring an additional 1,925,193 shares during the period. RTW Investments LP increased its holdings in Immatics by 29.7% during the 4th quarter. RTW Investments LP now owns 11,433,354 shares of the company’s stock worth $120,050,000 after acquiring an additional 2,617,737 shares during the period. Perceptive Advisors LLC lifted its stake in Immatics by 10.7% in the 4th quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock worth $109,026,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, 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 worth $54,102,000 after purchasing an additional 100,000 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

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.