Immatics (NASDAQ:IMTX) Stock Price Up 5.3% on Insider Buying Activity

Immatics N.V. (NASDAQ:IMTX)’s share price shot up 5.3% during trading on Friday after an insider bought additional shares in the company. The company traded as high as $9.86 and last traded at $9.86. Approximately 397,696 shares were traded during trading, a decline of 14% from the average daily volume of 464,852 shares. The stock had previously closed at $9.36.

Specifically, Director Perceptive Advisors Llc bought 863,060 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IMTX shares. Chardan Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Immatics in a research report on Tuesday, May 19th. Jefferies Financial Group set a $17.00 target price on Immatics in a research note on Tuesday. Weiss Ratings downgraded Immatics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen cut Immatics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Immatics Stock Performance

The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.25 and a beta of 1.33. The firm has a fifty day moving average of $9.45 and a 200-day moving average of $10.04.

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%. On average, analysts predict that Immatics N.V. will post -2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Troluce Capital Advisors LLC bought a new position in shares of Immatics during the first quarter worth about $2,460,000. Sofinnova Investments Inc. grew its position in Immatics by 54.2% in the 4th quarter. Sofinnova Investments Inc. now owns 3,435,542 shares of the company’s stock worth $36,073,000 after purchasing an additional 1,207,705 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in shares of Immatics in the fourth quarter valued at approximately $1,684,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Immatics during the first quarter valued at approximately $742,000. Finally, Perceptive Advisors LLC raised its holdings in shares of Immatics by 10.7% during the fourth quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock valued at $109,026,000 after buying an additional 1,000,000 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

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.