Key Points
- Perceptive Advisors purchased 863,060 Immatics shares at an average price of $8.69, investing approximately $7.5 million and increasing its ownership by 8.31% to 11.25 million shares.
- Immatics reported weaker-than-expected quarterly results, with an adjusted loss of $0.53 per share versus the $0.47 consensus estimate and revenue of $10.44 million versus expectations of $12.42 million.
- The stock opened at $9.36, while analysts maintained a consensus “Moderate Buy” rating and a $20.60 average price target; institutional investors own 64.41% of the company.
Immatics N.V. (NASDAQ:IMTX - Get Free Report) Director Perceptive Advisors Llc acquired 863,060 shares of the stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $8.69 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Immatics Stock Performance
Shares of NASDAQ:IMTX opened at $9.36 on Friday. The firm's 50 day simple moving average is $9.45 and its 200-day simple moving average is $10.04. Immatics N.V. has a one year low of $5.05 and a one year high of $12.41. The firm has a market cap of $1.25 billion, a PE ratio of -5.03 and a beta of 1.33.
Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). The firm had revenue of $10.44 million during the quarter, compared to the consensus estimate of $12.42 million. Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%. Equities research analysts predict that Immatics N.V. will post -2 EPS for the current fiscal year.
Institutional Trading of Immatics
A number of institutional investors have recently modified their holdings of IMTX. Troluce Capital Advisors LLC purchased a new stake in Immatics during the first quarter valued at approximately $2,460,000. Sofinnova Investments Inc. increased its position in shares of Immatics by 54.2% during the fourth 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 in the last quarter. Monashee Investment Management LLC acquired a new stake in shares of Immatics in the 4th quarter worth $1,684,000. Y Intercept Hong Kong Ltd purchased a new stake in Immatics during the 1st quarter worth approximately $742,000. Finally, Ishara Investments LP acquired a new position in Immatics in the 4th quarter worth approximately $840,000. 64.41% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on IMTX shares. Jefferies Financial Group set a $17.00 price objective on shares of Immatics in a research note on Tuesday. Chardan Capital restated a "buy" rating and issued a $25.00 price target on shares of Immatics in a report on Tuesday, May 19th. Wall Street Zen cut shares of Immatics from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings downgraded shares of Immatics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, June 23rd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.60.
Read Our Latest Stock Analysis on IMTX
About Immatics
(
Get Free Report)
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.
Further Reading
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