Goldman Sachs Group Inc. Raises Stake in Immatics (NASDAQ:IMTX)

Goldman Sachs Group Inc. raised its stake in shares of Immatics (NASDAQ:IMTX) by 324.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,548,909 shares of the company’s stock after buying an additional 1,183,860 shares during the quarter. Goldman Sachs Group Inc. owned about 1.83% of Immatics worth $16,310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IMTX. Vestal Point Capital LP purchased a new position in Immatics during the fourth quarter valued at approximately $22,113,000. RTW Investments LP increased its holdings in shares of Immatics by 75.7% in the fourth quarter. RTW Investments LP now owns 1,484,911 shares of the company’s stock worth $15,636,000 after purchasing an additional 639,911 shares during the period. Hudson Bay Capital Management LP raised its position in shares of Immatics by 8.1% in the third quarter. Hudson Bay Capital Management LP now owns 400,580 shares of the company’s stock worth $4,639,000 after buying an additional 30,000 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Immatics during the third quarter valued at $3,781,000. Finally, Platinum Investment Management Ltd. grew its position in Immatics by 16.9% during the fourth quarter. Platinum Investment Management Ltd. now owns 313,574 shares of the company’s stock worth $3,302,000 after buying an additional 45,363 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Mizuho raised their price target on Immatics from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 16th.

Immatics Price Performance

Shares of NASDAQ:IMTX opened at $11.79 on Friday. The company’s fifty day moving average price is $11.47 and its 200-day moving average price is $11.31. The firm has a market capitalization of $998.12 million, a price-to-earnings ratio of -11.12 and a beta of 0.73. Immatics has a one year low of $7.15 and a one year high of $13.77.

Immatics (NASDAQ:IMTX) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.70. Immatics had a negative return on equity of 29.36% and a negative net margin of 107.80%. The business had revenue of $32.87 million for the quarter, compared to the consensus estimate of $17.76 million. As a group, equities research analysts expect that Immatics will post -1.26 EPS for the current year.

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.