FY2024 EPS Estimates for Immatics Raised by Leerink Partnrs

Immatics (NASDAQ:IMTX) – Investment analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for shares of Immatics in a research report issued to clients and investors on Monday, November 18th. Leerink Partnrs analyst J. Chang now forecasts 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 ($0.93) per share. Leerink Partnrs also issued estimates for Immatics’ Q4 2024 earnings at ($0.35) EPS and FY2025 earnings at ($1.57) EPS.

Other research analysts also recently issued reports about the stock. Piper Sandler initiated coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price for the company. Bank of America reduced their price objective on Immatics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a research report on Thursday, September 5th.

Immatics Price Performance

NASDAQ IMTX opened at $7.80 on Thursday. The stock has a market capitalization of $930.98 million, a price-to-earnings ratio of -8.76 and a beta of 0.78. The business’s fifty day moving average is $10.10 and its 200-day moving average is $11.20. Immatics has a one year low of $7.46 and a one year high of $13.77.

Institutional Investors 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 shares of Immatics by 17.5% during 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 period. Wellington Management Group LLP lifted its stake in Immatics by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock worth $110,462,000 after purchasing an additional 144,549 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in Immatics in the 3rd quarter valued at $114,000. State Street Corp grew its position in shares of Immatics by 11.2% during the 3rd quarter. State Street Corp now owns 225,202 shares of the company’s stock valued at $2,570,000 after purchasing an additional 22,710 shares in the last quarter. Finally, Quarry LP boosted its stake in Immatics by 29.4% during the third quarter. Quarry LP now owns 11,000 shares of the company’s stock valued at $126,000 after buying an additional 2,500 shares during the period. 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.