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

Immatics (NASDAQ:IMTX) hit a new 52-week low on Thursday . The stock traded as low as $7.80 and last traded at $7.80, with a volume of 7445 shares. The stock had previously closed at $8.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IMTX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a research note on Thursday, September 5th. Piper Sandler began coverage on shares of Immatics in a research report on Monday, October 7th. They set an “overweight” rating and a $19.00 target price on the stock.

Immatics Trading Down 4.2 %

The stock has a 50-day simple moving average of $10.35 and a 200 day simple moving average of $11.25. The company has a market cap of $975.17 million, a price-to-earnings ratio of -9.18 and a beta of 0.78.

Immatics (NASDAQ:IMTX) last released its earnings results on Tuesday, August 13th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.17. Immatics had a negative return on equity of 23.34% and a negative net margin of 103.99%. The firm had revenue of $20.19 million during the quarter, compared to the consensus estimate of $12.36 million. As a group, research analysts forecast that Immatics will post -0.93 EPS for the current fiscal year.

Institutional Trading of Immatics

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in shares of Immatics by 1.5% during the third quarter. Wellington Management Group LLP now owns 9,681,183 shares of the company’s stock worth $110,462,000 after purchasing an additional 144,549 shares during the last quarter. Perceptive Advisors LLC raised its stake in shares of Immatics by 76.5% during the 2nd quarter. Perceptive Advisors LLC now owns 8,086,159 shares of the company’s stock valued at $93,961,000 after buying an additional 3,503,750 shares during the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of Immatics by 10.4% in the 1st quarter. Baker BROS. Advisors LP now owns 6,443,398 shares of the company’s stock valued at $67,720,000 after buying an additional 604,545 shares during the period. Vestal Point Capital LP lifted its holdings in shares of Immatics by 36.4% in the 3rd quarter. Vestal Point Capital LP now owns 3,750,000 shares of the company’s stock valued at $42,788,000 after buying an additional 1,000,000 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Immatics by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,225,360 shares of the company’s stock worth $33,899,000 after buying an additional 891,191 shares during the last quarter. 64.41% of the stock is currently owned by institutional investors and hedge funds.

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.