Analysts Set Expectations for Immatics FY2024 Earnings

Immatics (NASDAQ:IMTX) – Leerink Partnrs increased their FY2024 earnings estimates for shares of Immatics in a research report issued on Monday, November 18th. Leerink Partnrs analyst J. Chang now expects that the company will earn ($0.70) per share for the year, up from their prior forecast of ($0.97). The consensus estimate for Immatics’ current full-year earnings is ($0.95) per share. Leerink Partnrs also issued estimates for Immatics’ Q4 2024 earnings at ($0.35) EPS and FY2025 earnings at ($1.57) EPS.

Several other equities analysts have also recently issued reports on IMTX. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th. Piper Sandler began coverage on shares of Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, Bank of America decreased their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday.

Immatics Stock Performance

Shares of NASDAQ IMTX opened at $7.61 on Thursday. Immatics has a 52-week low of $7.46 and a 52-week high of $13.77. The firm has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $11.17. The stock has a market cap of $908.33 million, a P/E ratio of -11.53 and a beta of 0.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IMTX. Perceptive Advisors LLC boosted its stake in Immatics by 76.5% during the second quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock worth $93,961,000 after acquiring an additional 3,503,750 shares in the last quarter. RA Capital Management L.P. bought a new position in Immatics during the first quarter worth $18,392,000. Braidwell LP bought a new position in Immatics during the third quarter worth $18,799,000. Frazier Life Sciences Management L.P. bought a new position in Immatics during the second quarter worth $13,392,000. Finally, Vestal Point Capital LP boosted its stake in Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock worth $42,788,000 after acquiring an additional 1,000,000 shares in the last quarter. 64.41% of the stock is owned by institutional investors.

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.