Immatics (NASDAQ:IMTX) Earns Overweight Rating from Analysts at Piper Sandler

Equities researchers at Piper Sandler began coverage on shares of Immatics (NASDAQ:IMTX - Get Free Report) in a report issued on Monday, Marketbeat reports. The brokerage set an "overweight" rating and a $19.00 price target on the stock. Piper Sandler's target price would suggest a potential upside of 73.83% from the stock's previous close.

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

Immatics Stock Up 0.6 %

Shares of IMTX stock traded up $0.07 on Monday, hitting $10.93. The company had a trading volume of 295,758 shares, compared to its average volume of 451,202. The firm has a market cap of $925.31 million, a P/E ratio of -10.50 and a beta of 0.75. The company has a 50-day moving average price of $11.57 and a 200-day moving average price of $11.52. Immatics has a twelve month low of $7.15 and a twelve month high of $13.77.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.17. Immatics had a negative return on equity of 23.34% and a negative net margin of 103.99%. The firm had revenue of $20.19 million during the quarter, compared to analyst estimates of $12.36 million. Equities research analysts expect that Immatics will post -0.99 EPS for the current year.

Hedge Funds Weigh In On Immatics

Large investors have recently bought and sold shares of the business. Superstring Capital Management LP acquired a new stake in shares of Immatics during the fourth quarter worth about $834,000. ADAR1 Capital Management LLC acquired a new stake in shares of Immatics during the fourth quarter worth about $232,000. Goldman Sachs Group Inc. increased its position in shares of Immatics by 324.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,548,909 shares of the company's stock worth $16,310,000 after purchasing an additional 1,183,860 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Immatics by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 6,352,929 shares of the company's stock worth $66,896,000 after purchasing an additional 747,772 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new stake in shares of Immatics during the first quarter worth about $7,676,000. Hedge funds and other institutional investors 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.