Wall Street Zen Downgrades Immatics (NASDAQ:IMTX) to Sell

Immatics (NASDAQ:IMTX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other equities analysts have also commented on the stock. Guggenheim boosted their price objective on shares of Immatics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Leerink Partners reissued an “outperform” rating and issued a $17.00 price target on shares of Immatics in a report on Thursday, December 4th. Mizuho set a $25.00 price target on shares of Immatics in a research report on Thursday, February 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research report on Thursday, January 22nd. Finally, Chardan Capital reissued a “buy” rating and set a $25.00 price objective on shares of Immatics in a research note on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

Immatics Stock Performance

Shares of IMTX opened at $9.99 on Friday. Immatics has a 52-week low of $3.30 and a 52-week high of $12.41. The stock’s 50-day simple moving average is $9.91 and its 200 day simple moving average is $9.10. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -9.79 and a beta of 1.34.

Institutional Investors Weigh In On Immatics

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings 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 acquiring an additional 2,231 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Immatics during the second quarter worth about $136,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Immatics by 28.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,894 shares of the company’s stock worth $172,000 after purchasing an additional 7,116 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Immatics by 31.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 198,769 shares of the company’s stock valued at $1,069,000 after purchasing an additional 47,590 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Immatics by 105.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 78,123 shares of the company’s stock valued at $420,000 after purchasing an additional 40,058 shares during the last quarter. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.