Immatics (NASDAQ:IMTX) Sets New 1-Year High – Here’s Why

by · The Cerbat Gem

Immatics N.V. (NASDAQ:IMTX – Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $12.41 and last traded at $11.87, with a volume of 1011398 shares changing hands. The stock had previously closed at $10.34.

Analysts Set New Price Targets

Several analysts have weighed in on IMTX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research note on Wednesday, October 8th. Zacks Research raised shares of Immatics from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Leerink Partners reiterated an “outperform” rating and issued a $17.00 target price on shares of Immatics in a research report on Thursday. Mizuho boosted their price target on shares of Immatics from $19.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Finally, Guggenheim increased their price objective on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

View Our Latest Analysis on IMTX

Immatics Price Performance

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -9.98 and a beta of 1.36. The stock’s fifty day moving average price is $10.01 and its 200-day moving average price is $7.36.

Immatics (NASDAQ:IMTX – Get Free Report) last posted its quarterly earnings data on Monday, November 17th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. Immatics had a negative net margin of 146.13% and a negative return on equity of 24.16%. The firm had revenue of $6.10 million during the quarter, compared to analyst estimates of $12.53 million. As a group, equities research analysts predict that Immatics N.V. will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in Immatics by 38.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 14,677,003 shares of the company’s stock worth $66,194,000 after acquiring an additional 4,072,226 shares during the period. Baker BROS. Advisors LP lifted its position 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 last quarter. Jefferies Financial Group Inc. bought a new stake in Immatics during the third quarter valued at about $10,181,000. Vestal Point Capital LP boosted its holdings in Immatics by 14.6% during the first quarter. Vestal Point Capital LP now owns 7,192,700 shares of the company’s stock valued at $32,439,000 after acquiring an additional 917,700 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Immatics by 4,991.1% in the third quarter. Millennium Management LLC now owns 721,866 shares of the company’s stock worth $6,150,000 after purchasing an additional 707,687 shares during the period. 64.41% of the stock is owned by hedge funds and other institutional investors.

Immatics Company Profile

(Get Free Report)

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.

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