Immatics FY2024 EPS Estimate Raised by Cantor Fitzgerald

Immatics (NASDAQ:IMTX) – Investment analysts at Cantor Fitzgerald upped their FY2024 earnings estimates for Immatics in a report released on Tuesday, November 19th. Cantor Fitzgerald analyst E. Schmidt now forecasts that the company will post earnings of ($0.68) per share for the year, up from their prior forecast of ($0.80). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Immatics’ current full-year earnings is ($0.95) per share.

IMTX has been the subject of several other reports. Bank of America lowered their price objective on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler initiated coverage on Immatics in a research note on Monday, October 7th. They set an “overweight” rating and a $19.00 price target for the company.

Immatics Trading Down 2.4 %

Shares of NASDAQ:IMTX opened at $7.61 on Friday. The firm has a market cap of $908.33 million, a price-to-earnings ratio of -11.53 and a beta of 0.78. The stock’s 50-day moving average price is $10.00 and its two-hundred day moving average price is $11.17. Immatics has a 12-month low of $7.46 and a 12-month high of $13.77.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IMTX. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 144,549 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in Immatics by 76.5% in the 2nd 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 during the period. Baker BROS. Advisors LP grew its position in Immatics by 10.4% in the first quarter. Baker BROS. Advisors LP now owns 6,443,398 shares of the company’s stock valued at $67,720,000 after acquiring an additional 604,545 shares in the last quarter. Vestal Point Capital LP raised its stake in shares of Immatics by 36.4% during the third quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock valued at $42,788,000 after purchasing an additional 1,000,000 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Immatics by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock valued at $33,899,000 after purchasing an additional 891,191 shares during the period. 64.41% of the stock is owned by hedge funds and other 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.