Immatics’ (IMTX) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Immatics (NASDAQ:IMTX)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports.

Immatics Trading Down 4.9 %

Shares of NASDAQ IMTX traded down $0.22 during midday trading on Tuesday, hitting $4.29. 381,142 shares of the company’s stock were exchanged, compared to its average volume of 626,234. The business’s fifty day moving average price is $4.94 and its two-hundred day moving average price is $7.37. The company has a market cap of $511.92 million, a price-to-earnings ratio of -6.42 and a beta of 0.83. Immatics has a 12-month low of $4.06 and a 12-month high of $13.77.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.51. The business had revenue of $15.67 million during the quarter, compared to analysts’ expectations of $16.16 million. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. Equities analysts expect that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in Immatics by 166.0% in the 4th 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. Virtus ETF Advisers LLC lifted its holdings in shares of Immatics by 34.8% in the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock worth $68,000 after acquiring an additional 2,479 shares during the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Immatics in the 4th quarter valued at $101,000. Forefront Analytics LLC grew its holdings in shares of Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after purchasing an additional 4,731 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Immatics during the 3rd quarter valued at $114,000. Institutional investors own 64.41% of the company’s stock.

Immatics Company Profile

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.