Immatics (NASDAQ:IMTX) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Immatics (NASDAQ:IMTX) in a report issued on Tuesday morning,Benzinga reports.

Immatics Stock Performance

IMTX stock opened at $4.00 on Tuesday. The company has a market cap of $477.42 million, a price-to-earnings ratio of -6.06 and a beta of 0.83. The business’s 50-day moving average is $4.91 and its two-hundred day moving average is $7.31. Immatics has a fifty-two week low of $3.88 and a fifty-two week high of $13.77.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.51. The firm had revenue of $15.67 million for 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 predict that Immatics will post -0.72 earnings per share for the current year.

Institutional Investors Weigh In On Immatics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in Immatics by 166.0% during the fourth quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock valued at $25,000 after purchasing an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in Immatics by 34.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after purchasing an additional 2,479 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Immatics in the fourth quarter worth approximately $101,000. Forefront Analytics LLC increased its stake in shares of Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock worth $113,000 after purchasing an additional 4,731 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Immatics during the 3rd quarter valued at $114,000. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

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.