Immatics (NASDAQ:IMTX) Hits New 1-Year Low – What’s Next?

Immatics N.V. (NASDAQ:IMTX)’s stock price reached a new 52-week low on Thursday. The company traded as low as $6.47 and last traded at $6.49, with a volume of 265,029 shares traded. The stock had previously closed at $6.91.

Analysts Set New Price Targets

IMTX has been the subject of several research reports. Stifel Nicolaus assumed coverage on shares of Immatics in a research note on Tuesday, October 13th. They issued a “buy” rating and a $15.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Wall Street Zen cut shares of Immatics from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Jefferies Financial Group set a $17.00 target price on shares of Immatics in a research note on Tuesday, August 25th. Finally, Mizuho set a $21.00 target price on shares of Immatics in a report on Thursday, October 29th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

Immatics Trading Down 9.4%

The stock’s 50 day moving average is $8.13 and its 200-day moving average is $9.54. The company has a market cap of $855.68 million, a P/E ratio of -3.37 and a beta of 1.38.

Immatics (NASDAQ:IMTX) last released its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). The firm had revenue of $10.44 million for the quarter, compared to the consensus estimate of $12.42 million. Immatics had a negative net margin of 495.71% and a negative return on equity of 47.41%. As a group, sell-side analysts forecast that Immatics N.V. will post -1.99 EPS for the current year.

Insider Buying and Selling at Immatics

In other news, Director Perceptive Advisors Llc acquired 863,060 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average cost of $8.69 per share, for a total transaction of $7,499,991.40. Following the acquisition, the director directly owned 11,246,516 shares in the company, valued at approximately $97,732,224.04. The trade was a 8.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by company insiders.

Institutional Trading of Immatics

Several institutional investors have recently added to or reduced their stakes in IMTX. Wellington Management Group LLP raised its stake in shares of Immatics by 5.5% in the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock worth $16,693,000 after purchasing an additional 85,960 shares during the last quarter. Troluce Capital Advisors LLC purchased a new stake in shares of Immatics during the first quarter valued at $2,460,000. Alps Advisors Inc. boosted its position in shares of Immatics by 46.2% during the third quarter. Alps Advisors Inc. now owns 198,239 shares of the company’s stock valued at $1,741,000 after buying an additional 62,640 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Immatics by 0.7% during the second quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock valued at $1,737,000 after buying an additional 1,110 shares during the last quarter. Finally, SummitTX Capital L.P. increased its holdings in Immatics by 56.1% in the 1st quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock worth $1,487,000 after buying an additional 54,328 shares in the last quarter. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

Immatics Company Profile

Immatics N.V. is a biotechnology company developing T cell receptor (TCR)-based immunotherapies for cancer. The company’s approach is designed to recognize cancer-associated targets presented on the surface of tumor cells and activate the immune system against malignant tissue.

Its research and development programs include TCR-engineered T cell therapies, TCR bispecific molecules and other cell-based immunotherapies. Immatics has developed technology platforms intended to identify tumor targets and generate therapeutic TCRs, supporting programs for both solid tumors and blood cancers.