Immatics (NASDAQ:IMTX) Now Covered by Piper Sandler

Piper Sandler started coverage on shares of Immatics (NASDAQ:IMTX) in a research report released on Monday, MarketBeat Ratings reports. The firm issued an overweight rating and a $19.00 target price on the stock.

Separately, Cantor Fitzgerald restated an overweight rating on shares of Immatics in a research report on Thursday, September 5th.

Immatics Stock Performance

Immatics stock opened at $9.35 on Monday. The firm’s 50-day moving average is $11.46 and its 200-day moving average is $11.49. Immatics has a 1 year low of $7.15 and a 1 year high of $13.77. The company has a market cap of $791.13 million, a P/E ratio of -8.82 and a beta of 0.75.

Immatics (NASDAQ:IMTX) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.17. Immatics had a negative net margin of 103.99% and a negative return on equity of 23.34%. The company had revenue of $20.19 million for the quarter, compared to the consensus estimate of $12.36 million. As a group, sell-side analysts predict that Immatics will post -0.99 earnings per share for the current year.

Institutional Trading of Immatics

A number of large investors have recently modified their holdings of the company. Perceptive Advisors LLC increased its stake in Immatics by 76.5% during the 2nd quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after buying an additional 3,503,750 shares during the period. Baker BROS. Advisors LP increased its stake in Immatics by 10.4% during the 1st quarter. Baker BROS. Advisors LP now owns 6,443,398 shares of the company’s stock valued at $67,720,000 after buying an additional 604,545 shares during the period. Wellington Management Group LLP increased its stake in Immatics by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 6,352,929 shares of the company’s stock valued at $66,896,000 after buying an additional 747,772 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Immatics by 38.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock valued at $33,899,000 after buying an additional 891,191 shares during the period. Finally, RA Capital Management L.P. acquired a new position in Immatics during the 1st quarter valued at about $18,392,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

About Immatics

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.