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

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

Analysts Set New Price Targets

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

Immatics Price Performance

The company has a market capitalization of $869.35 million, a P/E ratio of -3.42 and a beta of 1.38. The firm has a fifty day moving average price of $8.01 and a 200-day moving average price of $9.50.

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

Insider Transactions at Immatics

In related 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 acquired 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 owned 11,246,516 shares of the company’s stock, valued at approximately $97,732,224.04. This represents a 8.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised 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 purchasing an additional 11,848 shares during the period. Doliver Advisors LP purchased a new stake in Immatics in the 3rd quarter worth about $263,000. Engineers Gate Manager LP increased its holdings in 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 acquiring an additional 10,638 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Immatics in the 1st quarter valued at about $742,000. Finally, SummitTX Capital L.P. raised its stake in Immatics by 56.1% in the 1st quarter. SummitTX Capital L.P. now owns 151,112 shares of the company’s stock valued at $1,487,000 after acquiring 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. 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.