Cantor Fitzgerald Raises Earnings Estimates for Immatics

Immatics (NASDAQ:IMTX) – Equities researchers at Cantor Fitzgerald lifted their FY2024 earnings per share (EPS) estimates for Immatics in a note issued to investors on Tuesday, November 19th. Cantor Fitzgerald analyst E. Schmidt now forecasts that the company will earn ($0.68) per share for the year, up from their prior estimate of ($0.80). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Immatics’ current full-year earnings is ($0.95) per share.

A number of other analysts have also issued reports on IMTX. Piper Sandler began coverage on Immatics in a research report on Monday, October 7th. They issued an “overweight” rating and a $19.00 target price on the stock. Bank of America cut their target price on Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday.

Immatics Stock Up 0.1 %

Shares of NASDAQ IMTX opened at $7.59 on Friday. The firm has a market cap of $905.94 million, a price-to-earnings ratio of -11.50 and a beta of 0.78. Immatics has a 52-week low of $7.46 and a 52-week high of $13.77. The business’s 50 day moving average is $9.90 and its two-hundred day moving average is $11.15.

Hedge Funds Weigh In On Immatics

Several large investors have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. increased its holdings in Immatics by 17.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock valued at $15,457,000 after buying an additional 202,255 shares during the last quarter. Wellington Management Group LLP boosted its stake in Immatics by 1.5% in the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock valued at $110,462,000 after acquiring an additional 144,549 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new position in Immatics in the third quarter valued at $114,000. State Street Corp boosted its stake in Immatics by 11.2% in the third quarter. State Street Corp now owns 225,202 shares of the company’s stock valued at $2,570,000 after acquiring an additional 22,710 shares in the last quarter. Finally, Quarry LP boosted its stake in Immatics by 29.4% in the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.

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.