Immatics (NASDAQ:IMTX) Hits New 12-Month Low – Here’s What Happened

Immatics (NASDAQ:IMTX) reached a new 52-week low during trading on Wednesday . The company traded as low as $3.88 and last traded at $4.24, with a volume of 402269 shares changing hands. The stock had previously closed at $4.00.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Immatics in a research note on Tuesday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.67.

Immatics Price Performance

The firm has a market capitalization of $506.07 million, a price-to-earnings ratio of -6.42 and a beta of 0.83. The stock has a 50 day moving average price of $4.91 and a two-hundred day moving average price of $7.31.

Immatics (NASDAQ:IMTX) last released its earnings results on Thursday, March 27th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.51. The company had revenue of $15.67 million during the quarter, compared to the consensus estimate of $16.16 million. Immatics had a negative return on equity of 15.90% and a negative net margin of 47.94%. As a group, research analysts expect that Immatics will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immatics

Large investors have recently added to or reduced their stakes in the business. abrdn plc grew its stake in shares of Immatics by 49.2% in the fourth quarter. abrdn plc now owns 347,379 shares of the company’s stock worth $2,470,000 after acquiring an additional 114,479 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 144,549 shares during the period. Frazier Life Sciences Management L.P. grew its stake in Immatics by 17.5% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 1,354,711 shares of the company’s stock worth $15,457,000 after purchasing an additional 202,255 shares in the last quarter. State Street Corp increased its holdings in Immatics by 11.2% during 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 during the period. Finally, The Manufacturers Life Insurance Company raised its position in Immatics by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 164,766 shares of the company’s stock valued at $1,880,000 after purchasing an additional 13,997 shares in the last quarter. 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.