Immatics (NASDAQ:IMTX) Stock Price Down 5.6% – Here’s Why

Immatics (NASDAQ:IMTX)’s stock price was down 5.6% during trading on Wednesday . The stock traded as low as $4.10 and last traded at $4.13. Approximately 83,372 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 649,197 shares. The stock had previously closed at $4.37.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Immatics in a research report on Tuesday, April 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Immatics has a consensus rating of “Buy” and a consensus price target of $16.67.

Immatics Stock Down 5.9 %

The firm has a market cap of $499.57 million, a P/E ratio of -6.23 and a beta of 0.85. The business has a fifty day simple moving average of $4.54 and a 200-day simple moving average of $6.70.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.51. The company had revenue of $15.67 million during the quarter, compared to analysts’ expectations of $16.16 million. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. On average, sell-side analysts anticipate that Immatics will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Immatics

Several large investors have recently modified their holdings of IMTX. Bank of America Corp DE raised its holdings in Immatics by 166.0% in the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company’s stock worth $25,000 after acquiring an additional 2,231 shares during the last quarter. Virtus ETF Advisers LLC raised its stake in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company’s stock valued at $68,000 after buying an additional 2,479 shares during the last quarter. Intellectus Partners LLC bought a new position in shares of Immatics during the 1st quarter valued at $70,000. Guggenheim Capital LLC purchased a new stake in Immatics during the fourth quarter valued at $101,000. Finally, Forefront Analytics LLC lifted its holdings in Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company’s stock valued at $113,000 after acquiring an additional 4,731 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.