Immatics (NASDAQ:IMTX) Sees Strong Trading Volume – What’s Next?

Shares of Immatics N.V. (NASDAQ:IMTX) saw an uptick in trading volume on Wednesday . 1,097,583 shares were traded during mid-day trading, an increase of 146% from the previous session’s volume of 446,457 shares.The stock last traded at $10.9390 and had previously closed at $11.39.

Analyst Ratings Changes

Several brokerages have recently issued reports on IMTX. Jefferies Financial Group began coverage on Immatics in a research report on Monday, March 16th. They set a “buy” rating and a $18.00 target price for the company. Wall Street Zen downgraded Immatics from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research note on Thursday, January 22nd. TD Cowen started coverage on Immatics in a research note on Tuesday, April 28th. They issued a “buy” rating on the stock. Finally, Mizuho set a $25.00 price target on Immatics in a report on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Immatics presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Immatics Stock Performance

The firm has a fifty day simple moving average of $10.43 and a 200 day simple moving average of $10.15. The company has a market capitalization of $1.44 billion, a PE ratio of -5.82 and a beta of 1.31.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). The firm had revenue of $8.81 million for the quarter, compared to analyst estimates of $9.79 million. Immatics had a negative return on equity of 41.81% and a negative net margin of 411.90%. Research analysts expect that Immatics N.V. will post -1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in Immatics by 3.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 49,374 shares of the company’s stock worth $518,000 after acquiring an additional 1,739 shares during the period. Bank of America Corp DE raised its stake in shares of Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after buying an additional 2,231 shares during the last quarter. Barclays PLC grew its holdings in Immatics by 11.4% during the fourth quarter. Barclays PLC now owns 28,185 shares of the company’s stock valued at $296,000 after purchasing an additional 2,874 shares during the period. Virtus Investment Advisers LLC boosted its holdings in shares of Immatics by 43.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 26,497 shares of the company’s stock valued at $278,000 after buying an additional 7,965 shares during the period. Finally, Quarry LP acquired a new position in shares of Immatics in the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.