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

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

Analysts Set New Price Targets

A number of brokerages have recently commented on IMTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a research note on Friday, September 18th. Wall Street Zen downgraded shares of Immatics from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Mizuho set a $21.00 price objective on shares of Immatics in a research report on Thursday, October 29th. Stifel Nicolaus began coverage on shares of Immatics in a report on Tuesday, October 13th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Jefferies Financial Group set a $17.00 target price on shares of Immatics in a research report on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Immatics Stock Performance

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

Immatics (NASDAQ:IMTX) last posted its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, sell-side analysts anticipate that Immatics N.V. will post -1.99 earnings per share for the current fiscal year.

Insider Activity

In other Immatics news, Director Perceptive Advisors Llc acquired 863,060 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average price of $8.69 per share, with a total value of $7,499,991.40. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Immatics

Institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. lifted its position in 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 purchasing an additional 62,640 shares in the last quarter. Doliver Advisors LP purchased a new stake in Immatics in the third quarter worth about $263,000. Tidal Investments LLC increased its position in Immatics by 0.7% in the second quarter. Tidal Investments LLC now owns 171,499 shares of the company’s stock worth $1,737,000 after buying an additional 1,110 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of Immatics by 26.4% in the second 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 period. Finally, 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 buying an additional 85,960 shares during the period. 64.41% of the stock is owned by 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.