Immatics (NASDAQ:IMTX) Shares Down 5.7% – Here’s Why

Immatics (NASDAQ:IMTX) was down 5.7% on Tuesday . The stock traded as low as $4.27 and last traded at $4.26. Approximately 59,871 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 620,936 shares. The stock had previously closed at $4.51.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Immatics in a report on Tuesday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Immatics presently has an average rating of “Buy” and a consensus target price of $16.67.

Immatics Trading Down 4.9 %

The company has a market capitalization of $512.04 million, a PE ratio of -6.55 and a beta of 0.83. The company has a fifty day simple moving average of $4.94 and a 200-day simple moving average of $7.37.

Immatics (NASDAQ:IMTX) last announced its quarterly earnings data on Thursday, March 27th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.51. Immatics had a negative net margin of 47.94% and a negative return on equity of 15.90%. The firm had revenue of $15.67 million during the quarter, compared to analyst estimates of $16.16 million. On average, equities analysts predict that Immatics will post -0.72 EPS for the current fiscal year.

Institutional Trading of Immatics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Suvretta Capital Management LLC acquired a new stake in Immatics during the fourth quarter worth $36,014,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Immatics by 43.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,604,777 shares of the company’s stock valued at $75,400,000 after purchasing an additional 3,225,141 shares during the last quarter. Vestal Point Capital LP grew its holdings in shares of Immatics by 67.3% during the 4th quarter. Vestal Point Capital LP now owns 6,275,000 shares of the company’s stock worth $44,615,000 after purchasing an additional 2,525,000 shares during the period. Braidwell LP increased its position in shares of Immatics by 112.7% during the 4th quarter. Braidwell LP now owns 3,503,965 shares of the company’s stock worth $24,913,000 after purchasing an additional 1,856,400 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP lifted its position in Immatics by 38.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,414,409 shares of the company’s stock valued at $38,496,000 after buying an additional 1,509,547 shares during the last quarter. Institutional investors and hedge funds own 64.41% of the company’s stock.

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.