Brokerages Set Immatics N.V. (NASDAQ:IMTX) Target Price at $20.60

Shares of Immatics N.V. (NASDAQ:IMTX) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $20.60.

A number of research firms recently commented on IMTX. Weiss Ratings cut shares of Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group set a $17.00 price target on Immatics in a report on Tuesday, August 25th.

Insider Transactions at Immatics

In related news, Director Perceptive Advisors Llc bought 863,060 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the acquisition, the director owned 11,246,516 shares of the company’s stock, valued at approximately $97,732,224.04. This represents a 8.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMTX. Tidal Investments LLC raised its holdings in shares of Immatics by 0.7% during the second quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock worth $1,737,000 after acquiring an additional 1,110 shares during the period. Engineers Gate Manager LP lifted its position in Immatics by 26.4% in the 2nd quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock valued at $515,000 after acquiring an additional 10,638 shares in the last quarter. Wellington Management Group LLP boosted its stake in Immatics by 5.5% in the 2nd quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock worth $16,693,000 after purchasing an additional 85,960 shares during the period. Bank of America Corp DE increased its holdings in Immatics by 87.5% during the 1st quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock worth $250,000 after purchasing an additional 11,848 shares in the last quarter. Finally, SummitTX Capital L.P. increased its holdings in Immatics by 56.1% during the 1st quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock worth $1,487,000 after purchasing an additional 54,328 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

Immatics Price Performance

Immatics stock opened at $8.72 on Tuesday. The company’s 50 day simple moving average is $9.20 and its 200 day simple moving average is $9.92. Immatics has a fifty-two week low of $6.55 and a fifty-two week high of $12.41. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.69 and a beta of 1.33.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). The firm had revenue of $10.44 million for the quarter, compared to analyst estimates of $12.42 million. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. As a group, analysts predict that Immatics will post -2 EPS for the current fiscal year.

About Immatics

Immatics N.V. is a biopharmaceutical company focused on developing T cell receptor (TCR)-based therapies for cancer. The company aims to identify cancer targets that are presented on the surface of tumor cells and develop treatments that enable T cells to recognize and attack those cells, including targets that may be difficult to address with conventional antibody-based medicines.

Immatics’ technology platforms support two primary approaches: TCR-engineered T-cell therapies, known as TCR-T, and TCR-based bispecific molecules designed to direct patients’ T cells toward tumor cells.