Leerink Partnrs Expects Increased Earnings for Immatics

Immatics (NASDAQ:IMTX) – Analysts at Leerink Partnrs lifted 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 post earnings of ($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 research analysts also recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a report on Thursday, September 5th. Bank of America dropped their target price on shares of Immatics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Piper Sandler began coverage on Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 price target for the company.

Immatics Stock Performance

Shares of NASDAQ:IMTX opened at $7.59 on Thursday. Immatics has a 52 week low of $7.46 and a 52 week high of $13.77. The firm has a market cap of $905.94 million, a PE ratio of -11.50 and a beta of 0.78. The firm’s fifty day moving average is $9.90 and its 200-day moving average is $11.15.

Hedge Funds Weigh In On Immatics

Several institutional investors have recently made changes to their positions in IMTX. Frazier Life Sciences Management L.P. increased its position in Immatics by 17.5% in the 3rd 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 in the last quarter. Wellington Management Group LLP increased its holdings in shares of Immatics by 1.5% during 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 shares of Immatics during the third quarter worth approximately $114,000. State Street Corp lifted its holdings in shares of Immatics by 11.2% in the 3rd quarter. State Street Corp now owns 225,202 shares of the company’s stock worth $2,570,000 after purchasing an additional 22,710 shares in the last quarter. Finally, Quarry LP grew its position in Immatics by 29.4% in the 3rd quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds 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.