Immatics (NASDAQ:IMTX) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Immatics (NASDAQ:IMTX) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

IMTX has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Immatics in a research report on Friday, September 18th. Jefferies Financial Group set a $17.00 target price on Immatics in a research note on Tuesday, August 25th. Stifel Nicolaus began coverage on Immatics in a research report on Tuesday, October 13th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Mizuho set a $21.00 price target on shares of Immatics in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Immatics Stock Down 1.9%

IMTX stock opened at $7.06 on Friday. Immatics has a 52-week low of $6.65 and a 52-week high of $12.41. The firm has a market cap of $965.03 million, a P/E ratio of -3.80 and a beta of 1.36. The company’s 50-day simple moving average is $8.21 and its 200-day simple moving average is $9.56.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). The business had revenue of $10.44 million during the quarter, compared to analysts’ expectations of $12.42 million. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. On average, analysts anticipate that Immatics will post -1.99 earnings per share for the current fiscal year.

Insider Activity at Immatics

In other news, Director Perceptive Advisors Llc acquired 863,060 shares of Immatics stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average cost of $8.69 per share, with a total value of $7,499,991.40. Following the purchase, the director owned 11,246,516 shares in the company, valued at $97,732,224.04. This trade represents a 8.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in 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 purchasing an additional 85,960 shares during the last quarter. Troluce Capital Advisors LLC purchased a new stake in shares of Immatics during the first quarter worth $2,460,000. Tidal Investments LLC raised its position in shares of Immatics by 0.7% in the second quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock valued at $1,737,000 after buying an additional 1,110 shares during the last quarter. SummitTX Capital L.P. raised its position in shares of Immatics by 56.1% in the first quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock valued at $1,487,000 after buying an additional 54,328 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Immatics in the first quarter valued at about $742,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

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.