Cantor Fitzgerald Raises Earnings Estimates for Immatics

Immatics (NASDAQ:IMTX) – Stock analysts at Cantor Fitzgerald upped their FY2024 EPS estimates for Immatics in a research report issued to clients and investors on Tuesday, November 19th. Cantor Fitzgerald analyst E. Schmidt now anticipates that the company will earn ($0.68) per share for the year, up from their previous forecast 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.

Several other research firms have also recently issued reports on IMTX. Piper Sandler began coverage on shares of Immatics in a report on Monday, October 7th. They set an “overweight” rating and a $19.00 price target for the company. Bank of America dropped their target price on shares of Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday.

Immatics Stock Up 0.1 %

NASDAQ IMTX opened at $7.59 on Friday. The stock has a market capitalization of $905.94 million, a P/E 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 firm has a 50-day moving average price of $9.90 and a 200 day moving average price of $11.15.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IMTX. Price T Rowe Associates Inc. MD grew its stake in Immatics by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock worth $33,899,000 after acquiring an additional 891,191 shares during the period. HighVista Strategies LLC purchased a new stake in Immatics in the 2nd quarter worth approximately $904,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Immatics during the 2nd quarter valued at $13,392,000. abrdn plc purchased a new stake in shares of Immatics during the 3rd quarter valued at $2,657,000. Finally, Perceptive Advisors LLC grew its stake in shares of Immatics by 76.5% during the 2nd quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after buying an additional 3,503,750 shares during the period. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.