Immatics N.V. (NASDAQ:IMTX) Stock Has Consensus Price Target of $19.00

Shares of Immatics N.V. (NASDAQ:IMTX) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.00.

A number of brokerages recently commented on IMTX. Stifel Nicolaus started coverage on Immatics in a research note on Tuesday, October 13th. They set a “buy” rating and a $15.00 price objective for the company. Wall Street Zen cut Immatics from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a report on Friday, September 18th. Mizuho set a $21.00 price objective on shares of Immatics in a research report on Thursday, October 29th. Finally, Jefferies Financial Group set a $17.00 target price on shares of Immatics in a research note on Tuesday, August 25th.

Insider Activity at Immatics

In related news, Director Perceptive Advisors Llc acquired 863,060 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Immatics

A number of institutional investors have recently made changes to their positions in the stock. Troluce Capital Advisors LLC acquired a new position in shares of Immatics during the first quarter valued at approximately $2,460,000. Wellington Management Group LLP increased its position 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 valued at $16,693,000 after purchasing an additional 85,960 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Immatics during the 1st quarter valued at $742,000. Alps Advisors Inc. raised its stake in shares of Immatics by 46.2% in the 3rd quarter. Alps Advisors Inc. now owns 198,239 shares of the company’s stock worth $1,741,000 after buying an additional 62,640 shares in the last quarter. Finally, SummitTX Capital L.P. raised its stake in shares of Immatics by 56.1% in the 1st quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock worth $1,487,000 after buying an additional 54,328 shares in the last quarter. 64.41% of the stock is owned by institutional investors and hedge funds.

Immatics Stock Up 0.1%

IMTX opened at $7.07 on Wednesday. Immatics has a 52-week low of $6.65 and a 52-week high of $12.41. The company has a 50 day moving average of $8.18 and a two-hundred day moving average of $9.55. The company has a market cap of $966.40 million, a P/E ratio of -3.80 and a beta of 1.38.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). The business 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%. Research analysts anticipate that Immatics will post -1.99 earnings per share for the current year.

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.