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

Immatics N.V. (NASDAQ:IMTX)’s share price reached a new 52-week low on Friday. The company traded as low as $7.02 and last traded at $7.37, with a volume of 604,725 shares changing hands. The stock had previously closed at $7.45.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a report on Friday, September 18th. Jefferies Financial Group set a $17.00 target price on shares of Immatics in a report on Tuesday, August 25th. Finally, Wall Street Zen raised shares of Immatics from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Immatics Price Performance

The company has a fifty day moving average of $8.91 and a 200-day moving average of $9.75. The firm has a market cap of $1.02 billion, a P/E ratio of -3.99 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last issued its quarterly earnings data 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 net margin of 495.71% and a negative return on equity of 47.41%. The company had revenue of $10.44 million for the quarter, compared to the consensus estimate of $12.42 million. On average, sell-side analysts expect that Immatics N.V. will post -2.00 EPS for the current fiscal year.

Insider Activity at Immatics

In other news, Director Perceptive Advisors Llc bought 863,060 shares of the stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $8.69 per share, for a total transaction of $7,499,991.40. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of Immatics by 0.7% during the 2nd quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock valued at $1,737,000 after purchasing an additional 1,110 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Immatics by 26.4% in the 2nd quarter. Engineers Gate Manager LP now owns 50,886 shares of the company’s stock worth $515,000 after buying an additional 10,638 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Immatics by 87.5% in the 1st quarter. Bank of America Corp DE now owns 25,394 shares of the company’s stock worth $250,000 after buying an additional 11,848 shares during the last quarter. Doliver Advisors LP bought a new position in Immatics during the third quarter valued at about $263,000. Finally, SummitTX Capital L.P. grew its position in Immatics by 56.1% during the first quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock valued at $1,487,000 after buying an additional 54,328 shares during the period. 64.41% of the stock is currently owned by hedge funds and other institutional investors.

About Immatics

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.