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

Immatics N.V. (NASDAQ:IMTX)’s stock price reached a new 52-week low on Thursday. The stock traded as low as $6.73 and last traded at $7.00, with a volume of 1,566,315 shares changing hands. The stock had previously closed at $6.83.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IMTX shares. Stifel Nicolaus initiated coverage on shares of Immatics in a report on Tuesday. They set a “buy” rating and a $15.00 target price on the stock. Jefferies Financial Group set a $17.00 price target on shares of Immatics in a research note on Tuesday, August 25th. Wall Street Zen upgraded shares of Immatics from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immatics in a report on Friday, September 18th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.67.

Immatics Stock Performance

The firm has a fifty day simple moving average of $8.76 and a 200-day simple moving average of $9.70. The firm has a market cap of $956.83 million, a price-to-earnings ratio of -3.76 and a beta of 1.36.

Immatics (NASDAQ:IMTX) last released its quarterly earnings data on Tuesday, August 18th. The company reported ($0.53) EPS 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 during the quarter, compared to analyst estimates of $12.42 million. Analysts expect that Immatics N.V. will post -2.00 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Perceptive Advisors Llc bought 863,060 shares of Immatics stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $8.69 per share, with a total value of $7,499,991.40. Following 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Troluce Capital Advisors LLC bought a new position in Immatics in the 1st quarter valued at about $2,460,000. Wellington Management Group LLP lifted its position in Immatics by 5.5% during the second quarter. Wellington Management Group LLP now owns 1,647,852 shares of the company’s stock worth $16,693,000 after acquiring an additional 85,960 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Immatics during the first quarter worth approximately $742,000. Perceptive Advisors LLC boosted its holdings in shares of Immatics by 10.7% during the fourth quarter. Perceptive Advisors LLC now owns 10,383,456 shares of the company’s stock worth $109,026,000 after acquiring an additional 1,000,000 shares during the period. Finally, Ishara Investments LP bought a new stake in shares of Immatics during the fourth quarter worth approximately $840,000. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.