Immatics (NASDAQ:IMTX) Sets New 52-Week Low – Time to Sell?

Immatics N.V. (NASDAQ:IMTX)’s stock price reached a new 52-week low during mid-day trading on Saturday. The stock traded as low as $7.40 and last traded at $7.59, with a volume of 1256460 shares trading hands. The stock had previously closed at $8.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group set a $17.00 target price on Immatics in a research report on Tuesday, August 25th. Wall Street Zen upgraded Immatics from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Immatics has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Immatics Price Performance

The company has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $9.83. The firm has a market cap of $1.04 billion, a PE ratio of -4.08 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). Immatics had a negative return on equity of 47.41% and a negative net margin of 495.71%.The business had revenue of $10.44 million during the quarter, compared to analysts’ expectations of $12.42 million. As a group, equities research analysts predict that Immatics N.V. will post -2 earnings per share for the current year.

Insider Buying and Selling

In other Immatics news, Director Perceptive Advisors Llc bought 863,060 shares of Immatics stock in a transaction on Wednesday, August 26th. The shares were acquired at an average price of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the purchase, the director directly owned 11,246,516 shares in the company, valued at approximately $97,732,224.04. This trade represents a 8.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Immatics

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Immatics by 87.5% in the first quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock worth $250,000 after purchasing an additional 11,848 shares during the last quarter. Doliver Advisors LP bought a new stake in Immatics during the 3rd quarter valued at about $263,000. Engineers Gate Manager LP boosted its position in Immatics by 26.4% in the 2nd quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock valued at $515,000 after buying an additional 10,638 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Immatics in the 1st quarter valued at about $742,000. Finally, Ishara Investments LP purchased a new stake in Immatics in the 4th quarter valued at about $840,000. 64.41% of the stock is owned by hedge funds and other institutional investors.

Immatics Company Profile

Immatics N.V. (NASDAQ: IMTX) is a biotechnology company focused on developing T cell receptor (TCR)-based therapies for the treatment of cancer. The company identifies cancer targets and designs treatments intended to direct a patient’s immune system toward tumor cells, including solid tumors that may be difficult to address with conventional immunotherapies.

Immatics’ technology platforms support several therapeutic approaches, including TCR-engineered T-cell therapies and TCR-based bispecific molecules that can engage both cancer targets and T cells.