Immatics (NASDAQ:IMTX) Shares Gap Up – Time to Buy?

Immatics N.V. (NASDAQ:IMTX) gapped up before the market opened on Tuesday . The stock had previously closed at $8.69, but opened at $9.59. Immatics shares last traded at $9.59, with a volume of 167,701 shares changing hands.

Analysts Set New Price Targets

IMTX has been the subject of a number of recent research reports. Chardan Capital reissued a “buy” rating and issued a $25.00 target price on shares of Immatics in a report on Tuesday, May 19th. Weiss Ratings downgraded shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Wall Street Zen lowered shares of Immatics from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, TD Cowen initiated coverage on shares of Immatics in a research note on Tuesday, April 28th. They issued a “buy” rating for the company. Six equities 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Immatics Stock Performance

The company has a market capitalization of $1.27 billion, a P/E ratio of -5.09 and a beta of 1.33. The firm’s fifty day moving average is $9.46 and its 200 day moving average is $10.03.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings data 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). The firm had revenue of $10.44 million during the quarter, compared to the consensus estimate of $12.42 million. Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%. On average, analysts forecast that Immatics N.V. will post -1.84 EPS for the current year.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently modified their holdings of IMTX. Bank of America Corp DE boosted its holdings in Immatics by 166.0% during the 4th 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 period. Quarry LP purchased a new stake in Immatics in the fourth quarter worth $84,000. Engineers Gate Manager LP purchased a new stake in Immatics in the second quarter worth $124,000. Fox Run Management L.L.C. bought a new stake in shares of Immatics during the fourth quarter worth $129,000. Finally, Graham Capital Management L.P. bought a new stake in shares of Immatics during the fourth quarter worth $206,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Immatics Company Profile

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.